Associated Banc (NYSE:ASB) Price Target Lowered to $22.00 at Jefferies Financial Group

Associated Banc (NYSE:ASB) had its target price reduced by stock analysts at Jefferies Financial Group from $24.00 to $22.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 7.00% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company raised their target price on shares of Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Stephens reissued an “equal weight” rating and issued a $23.00 target price on shares of Associated Banc in a report on Friday, April 26th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays cut their target price on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a report on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Associated Banc presently has an average rating of “Hold” and a consensus target price of $22.78.

Associated Banc Stock Performance

Shares of ASB stock opened at $20.56 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. Associated Banc has a one year low of $15.16 and a one year high of $22.77. The company’s 50-day simple moving average is $21.12 and its 200-day simple moving average is $21.00. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.18 and a beta of 0.95.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Tuesday, April 30th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The business had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $325.00 million. During the same quarter last year, the company posted $0.66 earnings per share. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities analysts anticipate that Associated Banc will post 2.11 earnings per share for the current fiscal year.

Insider Activity at Associated Banc

In related news, EVP John A. Utz sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.18, for a total transaction of $55,450.00. Following the transaction, the executive vice president now owns 100,922 shares in the company, valued at $2,238,449.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Nicole M. Kitowski sold 5,019 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total transaction of $106,553.37. Following the transaction, the executive vice president now owns 37,993 shares in the company, valued at $806,591.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Utz sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.18, for a total transaction of $55,450.00. Following the transaction, the executive vice president now owns 100,922 shares in the company, valued at approximately $2,238,449.96. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. EMC Capital Management grew its position in Associated Banc by 34.6% in the first quarter. EMC Capital Management now owns 27,869 shares of the bank’s stock worth $599,000 after buying an additional 7,162 shares during the last quarter. Hancock Whitney Corp grew its position in Associated Banc by 19.3% in the first quarter. Hancock Whitney Corp now owns 59,769 shares of the bank’s stock worth $1,286,000 after buying an additional 9,687 shares during the last quarter. Tidal Investments LLC acquired a new position in Associated Banc in the first quarter worth approximately $866,000. Bayesian Capital Management LP acquired a new position in Associated Banc in the first quarter worth approximately $609,000. Finally, Lazard Asset Management LLC acquired a new position in Associated Banc in the first quarter worth approximately $350,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

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.