Associated Banc (NYSE:ASB) Reaches New 12-Month High - Should You Buy?

Shares of Associated Banc-Corp (NYSE:ASB - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $24.31 and last traded at $24.04, with a volume of 197268 shares. The stock had previously closed at $23.55.

Wall Street Analysts Forecast Growth

ASB has been the topic of several research reports. Barclays raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. StockNews.com cut shares of Associated Banc from a "hold" rating to a "sell" rating in a research note on Wednesday, October 23rd. Stephens reaffirmed an "equal weight" rating and set a $24.00 target price on shares of Associated Banc in a report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their target price on Associated Banc from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Friday, July 26th. Finally, Robert W. Baird reduced their price target on Associated Banc from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $23.89.

Associated Banc Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The firm's 50-day moving average price is $21.88 and its 200-day moving average price is $21.52. The stock has a market capitalization of $3.63 billion, a PE ratio of 24.26, a PEG ratio of 1.66 and a beta of 0.93.

Associated Banc (NYSE:ASB - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The business had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, equities analysts forecast that Associated Banc-Corp will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares in the company, valued at $2,269,730.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now directly owns 54,114 shares of the company's stock, valued at approximately $1,108,254.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 2,000 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the transaction, the executive vice president now directly owns 99,637 shares of the company's stock, valued at approximately $2,269,730.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Associated Banc

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock worth $69,000 after purchasing an additional 1,438 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Associated Banc by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,220 shares of the bank's stock valued at $370,000 after acquiring an additional 1,170 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Associated Banc by 2.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank's stock worth $419,000 after acquiring an additional 525 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Associated Banc by 134.7% during the third quarter. Assenagon Asset Management S.A. now owns 129,939 shares of the bank's stock worth $2,799,000 after acquiring an additional 74,574 shares during the period. Finally, Greenleaf Trust grew its position in shares of Associated Banc by 7.9% in the third quarter. Greenleaf Trust now owns 11,596 shares of the bank's stock valued at $250,000 after purchasing an additional 853 shares during the period. Institutional investors and hedge funds own 82.98% of the company's stock.

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.