Associated Banc (NYSE:ASB) Cut to “Sell” at StockNews.com

Associated Banc (NYSE:ASB) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other brokerages have also recently issued reports on ASB. Robert W. Baird dropped their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Piper Sandler increased their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Stephens reaffirmed an “equal weight” rating and set a $28.00 price objective on shares of Associated Banc in a research note on Friday, January 24th. Wells Fargo & Company increased their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Barclays boosted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.00.

Associated Banc Trading Up 1.7 %

NYSE:ASB opened at $25.15 on Friday. Associated Banc has a 12 month low of $19.40 and a 12 month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average is $25.09 and its 200 day moving average is $23.50. The stock has a market capitalization of $3.80 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. Sell-side analysts expect that Associated Banc will post 2.15 earnings per share for the current year.

Insider Transactions at Associated Banc

In other news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new position in shares of Associated Banc in the third quarter worth approximately $39,000. Crews Bank & Trust bought a new position in Associated Banc in the 4th quarter valued at approximately $56,000. Sugar Maple Asset Management LLC purchased a new stake in Associated Banc during the 4th quarter valued at $64,000. R Squared Ltd bought a new stake in shares of Associated Banc in the 4th quarter worth $67,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after purchasing an additional 1,438 shares during the last quarter. 82.98% of the stock is currently 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. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.