Raymond James Reaffirms Hold Rating for Associated Banc (NYSE:ASB)

Raymond James reaffirmed their hold rating on shares of Associated Banc (NYSE:ASB) in a report released on Monday, AnalystRatings.com reports.

A number of other research analysts have also issued reports on ASB. ValuEngine upgraded shares of Associated Banc from a sell rating to a hold rating in a report on Thursday, August 6th. Jefferies Financial Group lowered shares of Associated Banc from a buy rating to a hold rating and dropped their price objective for the company from $15.00 to $13.00 in a report on Thursday, July 9th. Finally, SunTrust Banks raised their price objective on shares of Associated Banc from $14.00 to $15.00 and gave the company a hold rating in a report on Tuesday, May 19th. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $17.13.

ASB stock opened at $13.42 on Monday. The company has a market capitalization of $2.06 billion, a PE ratio of 6.30, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.98 and a current ratio of 0.98. Associated Banc has a 52 week low of $10.23 and a 52 week high of $22.60. The company’s 50-day simple moving average is $13.57 and its 200 day simple moving average is $13.58.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $448.34 million for the quarter, compared to the consensus estimate of $323.82 million. Associated Banc had a net margin of 21.70% and a return on equity of 6.88%. On average, analysts forecast that Associated Banc will post 0.83 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, August 31st. Associated Banc’s dividend payout ratio is presently 36.55%.

In other Associated Banc news, CFO Moral-Niles Christopher Del acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $12.98 per share, with a total value of $25,960.00. Following the completion of the acquisition, the chief financial officer now owns 58,850 shares of the company’s stock, valued at $763,873. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.38% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. acquired a new position in Associated Banc in the 1st quarter worth about $165,000. Aperio Group LLC raised its position in shares of Associated Banc by 233.3% in the first quarter. Aperio Group LLC now owns 195,197 shares of the bank’s stock valued at $2,497,000 after purchasing an additional 136,637 shares during the period. Rhumbline Advisers raised its position in shares of Associated Banc by 7.9% in the first quarter. Rhumbline Advisers now owns 410,461 shares of the bank’s stock valued at $5,250,000 after purchasing an additional 30,134 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Associated Banc by 36.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,657 shares of the bank’s stock valued at $187,000 after acquiring an additional 3,906 shares in the last quarter. Finally, Foundry Partners LLC grew its stake in shares of Associated Banc by 18.5% in the first quarter. Foundry Partners LLC now owns 1,119,934 shares of the bank’s stock valued at $14,324,000 after acquiring an additional 174,751 shares in the last quarter. 71.81% of the stock is owned by institutional investors.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.

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Analyst Recommendations for Associated Banc (NYSE:ASB)

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