Associated Banc (NYSE:ASB) Rating Increased to Overweight at Wells Fargo & Company

Associated Banc (NYSE:ASB - Get Free Report) was upgraded by equities researchers at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued on Wednesday, MarketBeat reports. The firm presently has a $26.00 target price on the bank's stock, down from their prior target price of $27.00. Wells Fargo & Company's price objective would suggest a potential upside of 35.35% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Stephens restated an "equal weight" rating and set a $28.00 price target on shares of Associated Banc in a report on Tuesday, March 25th. StockNews.com cut shares of Associated Banc from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Royal Bank of Canada increased their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, January 24th. Robert W. Baird lowered their target price on shares of Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their price target on Associated Banc from $29.00 to $30.00 and gave the company a "market perform" rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $26.67.

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Associated Banc Stock Down 0.1 %

Shares of ASB traded down $0.02 during mid-day trading on Wednesday, hitting $19.21. 397,913 shares of the company's stock were exchanged, compared to its average volume of 1,489,266. The stock's 50-day moving average is $22.87 and its 200-day moving average is $23.92. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. Associated Banc has a fifty-two week low of $18.32 and a fifty-two week high of $28.18. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 1.52 and a beta of 0.78.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. On average, sell-side analysts anticipate that Associated Banc will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total transaction of $172,970.00. Following the completion of the sale, the director now directly owns 49,495 shares of the company's stock, valued at approximately $1,223,021.45. This trade represents a 12.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Williams sold 2,830 shares of Associated Banc stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the transaction, the director now owns 66,915 shares in the company, valued at $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Associated Banc

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP boosted its holdings in shares of Associated Banc by 154.3% in the fourth quarter. Quarry LP now owns 1,073 shares of the bank's stock valued at $26,000 after acquiring an additional 651 shares in the last quarter. Covestor Ltd increased its position in Associated Banc by 221.0% during the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank's stock worth $36,000 after purchasing an additional 1,032 shares during the period. Versant Capital Management Inc raised its stake in shares of Associated Banc by 385.5% during the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock worth $36,000 after buying an additional 1,280 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after buying an additional 579 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Associated Banc in the 4th quarter valued at approximately $56,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

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.