Associated Banc (NYSE:ASB) Given a $22.00 Price Target by SunTrust Banks Analysts

Associated Banc (NYSE:ASB) has been assigned a $22.00 target price by stock analysts at SunTrust Banks in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a “hold” rating on the bank’s stock. SunTrust Banks’ price target points to a potential upside of 8.11% from the company’s current price.

Separately, Royal Bank of Canada set a $23.00 target price on shares of Associated Banc and gave the company a “hold” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.50.

Shares of NYSE:ASB traded up $0.31 on Monday, hitting $20.35. The company’s stock had a trading volume of 1,020,332 shares, compared to its average volume of 1,129,709. Associated Banc has a 12 month low of $18.52 and a 12 month high of $27.80. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. The stock’s 50-day moving average is $19.86 and its two-hundred day moving average is $21.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.91 and a current ratio of 0.92.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. The company had revenue of $309.46 million for the quarter, compared to analyst estimates of $315.84 million. During the same period last year, the company earned $0.53 earnings per share. Equities analysts expect that Associated Banc will post 1.93 earnings per share for the current fiscal year.

In other news, insider Christopher C. Piotrowski sold 10,726 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $21.37, for a total transaction of $229,214.62. Following the completion of the transaction, the insider now owns 40,276 shares in the company, valued at approximately $860,698.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Moral-Niles Christopher Del sold 3,972 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $20.28, for a total transaction of $80,552.16. Following the transaction, the chief financial officer now owns 52,808 shares of the company’s stock, valued at approximately $1,070,946.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,698 shares of company stock worth $362,767. 2.69% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new stake in Associated Banc during the second quarter worth approximately $67,000. Avestar Capital LLC acquired a new position in Associated Banc in the second quarter worth approximately $150,000. Neo Ivy Capital Management bought a new position in shares of Associated Banc in the second quarter valued at $181,000. Qube Research & Technologies Ltd bought a new position in shares of Associated Banc in the second quarter valued at $201,000. Finally, Isthmus Partners LLC increased its holdings in shares of Associated Banc by 99.7% in the second quarter. Isthmus Partners LLC now owns 10,053 shares of the bank’s stock valued at $213,000 after buying an additional 5,020 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.

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Analyst Recommendations for Associated Banc (NYSE:ASB)

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