Associated Banc (NYSE:ASB) has been given a $23.00 price target by equities researchers at Royal Bank of Canada in a note issued to investors on Friday, TipRanks reports. The brokerage currently has a “hold” rating on the bank’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 6.78% from the stock’s previous close.

Separately, Zacks Investment Research upgraded IMI PLC/S from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Associated Banc currently has an average rating of “Hold” and a consensus target price of $24.78.

Shares of NYSE:ASB traded up $0.22 during trading hours on Friday, hitting $21.54. 1,964,042 shares of the company’s stock traded hands, compared to its average volume of 1,069,511. Associated Banc has a 1 year low of $18.53 and a 1 year high of $28.13. The firm has a fifty day simple moving average of $20.92. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.55 and a beta of 1.16. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.05.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, July 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Associated Banc had a return on equity of 9.93% and a net margin of 22.01%. The business had revenue of $309.46 million during the quarter, compared to analyst estimates of $315.84 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, analysts predict that Associated Banc will post 1.98 EPS for the current year.

In other news, insider David L. Stein sold 5,000 shares of Associated Banc stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $23.12, for a total transaction of $115,600.00. Following the completion of the sale, the insider now owns 49,685 shares of the company’s stock, valued at $1,148,717.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of Associated Banc stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.89, for a total transaction of $228,900.00. Following the sale, the chief executive officer now directly owns 218,996 shares of the company’s stock, valued at approximately $5,012,818.44. The disclosure for this sale can be found here. Insiders have sold 20,060 shares of company stock valued at $461,133 in the last ninety days. Insiders own 2.69% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Executive Wealth Management LLC bought a new position in Associated Banc in the first quarter worth approximately $25,000. Nisa Investment Advisors LLC bought a new position in Associated Banc in the second quarter worth approximately $67,000. HRT Financial LLC bought a new position in Associated Banc in the fourth quarter worth approximately $216,000. Fox Run Management L.L.C. bought a new position in Associated Banc in the second quarter worth approximately $228,000. Finally, Virtu Financial LLC bought a new position in Associated Banc in the first quarter worth approximately $242,000. 73.35% of the stock is 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. 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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