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.
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.
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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.
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