Associated Banc (ASB) Rating Reiterated by Piper Jaffray Companies

Piper Jaffray Companies restated their hold rating on shares of Associated Banc (NYSE:ASB) in a research note released on Tuesday morning. Piper Jaffray Companies currently has a $27.00 price target on the bank’s stock.

ASB has been the topic of a number of other reports. Keefe, Bruyette & Woods restated a neutral rating on shares of Associated Banc in a research report on Friday, September 22nd. Morgan Stanley increased their price objective on shares of Associated Banc from $25.50 to $28.00 and gave the stock an equal weight rating in a report on Wednesday, December 13th. Robert W. Baird reaffirmed a hold rating and issued a $25.00 price objective on shares of Associated Banc in a report on Sunday, October 1st. Barclays increased their price objective on shares of Associated Banc from $27.00 to $29.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Finally, SunTrust Banks reaffirmed a hold rating and issued a $27.00 price objective on shares of Associated Banc in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. Associated Banc presently has an average rating of Hold and an average price target of $26.60.

Associated Banc (NYSE ASB) remained flat at $$26.55 during trading on Tuesday. The stock had a trading volume of 636,595 shares, compared to its average volume of 857,769. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03. Associated Banc has a twelve month low of $20.95 and a twelve month high of $26.70. The company has a market capitalization of $4,013.43, a P/E ratio of 18.18, a P/E/G ratio of 2.17 and a beta of 1.19.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. Associated Banc had a net margin of 19.54% and a return on equity of 7.81%. The company had revenue of $276.02 million for the quarter, compared to the consensus estimate of $276.88 million. During the same period last year, the firm posted $0.31 EPS. sell-side analysts expect that Associated Banc will post 1.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.3828 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 5.77%. Associated Banc’s dividend payout ratio (DPR) is presently 38.36%.

In other Associated Banc news, insider William M. Bohn sold 15,946 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $26.00, for a total transaction of $414,596.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 11,999 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $24.72, for a total transaction of $296,615.28. Following the transaction, the chief financial officer now directly owns 81,092 shares in the company, valued at approximately $2,004,594.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,876 shares of company stock worth $1,570,505. Corporate insiders own 1.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ASB. Cramer Rosenthal Mcglynn LLC increased its stake in Associated Banc by 62.2% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 3,674,521 shares of the bank’s stock valued at $89,107,000 after buying an additional 1,409,435 shares during the period. Koch Industries Inc. acquired a new position in Associated Banc during the 2nd quarter valued at about $581,000. Maltese Capital Management LLC increased its stake in Associated Banc by 600.0% during the 3rd quarter. Maltese Capital Management LLC now owns 455,000 shares of the bank’s stock valued at $11,034,000 after buying an additional 390,000 shares during the period. Vanguard Group Inc. increased its stake in Associated Banc by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock valued at $321,025,000 after buying an additional 248,381 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Associated Banc by 14.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,938,950 shares of the bank’s stock valued at $47,019,000 after buying an additional 245,390 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Associated Banc (ASB) Rating Reiterated by Piper Jaffray Companies” was published by Week Herald and is the property of of Week Herald. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://weekherald.com/2018/01/13/associated-banc-asb-rating-reiterated-by-piper-jaffray-companies.html.

About Associated Banc

Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.

Analyst Recommendations for Associated Banc (NYSE:ASB)

Receive News & Ratings for Associated Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply