Wall Street Zen Downgrades Associated Banc (NYSE:ASB) to Hold

Associated Banc (NYSE:ASB) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also weighed in on ASB. Weiss Ratings raised Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, February 17th. Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 23rd. Piper Sandler lifted their price target on shares of Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Zacks Research upgraded shares of Associated Banc from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Finally, Stephens started coverage on shares of Associated Banc in a research report on Friday. They issued an “overweight” rating and a $29.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc presently has a consensus rating of “Moderate Buy” and an average target price of $29.20.

Associated Banc Trading Down 2.0%

ASB stock opened at $24.86 on Friday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.18 and a beta of 0.80. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $26.68 and a 200-day simple moving average of $26.15. Associated Banc has a 52 week low of $18.32 and a 52 week high of $29.51.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The firm had revenue of $393.52 million for the quarter, compared to analysts’ expectations of $382.06 million. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.During the same quarter last year, the firm earned $0.72 earnings per share. On average, equities research analysts expect that Associated Banc will post 2.43 EPS for the current year.

Associated Banc announced that its board has initiated a share repurchase plan on Tuesday, January 27th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Associated Banc news, Director Eileen A. Kamerick sold 6,600 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $28.02, for a total value of $184,932.00. Following the transaction, the director owned 49,264 shares in the company, valued at $1,380,377.28. The trade was a 11.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick Edward Ahern sold 14,731 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $29.03, for a total transaction of $427,640.93. Following the completion of the transaction, the executive vice president directly owned 39,401 shares of the company’s stock, valued at approximately $1,143,811.03. The trade was a 27.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,656 shares of company stock valued at $677,789 in the last quarter. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ASB. California State Teachers Retirement System raised its position in shares of Associated Banc by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after acquiring an additional 394 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after purchasing an additional 408 shares during the period. US Bancorp DE increased its stake in Associated Banc by 0.5% during the third quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock valued at $2,074,000 after purchasing an additional 415 shares during the last quarter. LPL Financial LLC increased its stake in Associated Banc by 2.3% during the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after purchasing an additional 426 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Associated Banc by 2.0% during the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after purchasing an additional 549 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.