Associated Banc-Corp (ASB) Receives a Hold from Raymond James

By Carrie Williams

In a report released today, David Long from Raymond James reiterated a Hold rating on Associated Banc-Corp (ASBResearch Report). The company’s shares closed last Monday at $13.57.

According to TipRanks.com, Long has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -10.3% and a 23.1% success rate. Long covers the Financial sector, focusing on stocks such as Enterprise Financial Services, Pinnacle Financial Partners, and First Financial Bancorp.

Currently, the analyst consensus on Associated Banc-Corp is a Hold with an average price target of $13.50.

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Based on Associated Banc-Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $444 million and net profit of $149 million. In comparison, last year the company earned revenue of $309 million and had a net profit of $84.66 million.

Based on the recent corporate insider activity of 207 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ASB in relation to earlier this year.

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Associated Banc-Corp. operates as a bank holding company, which offers various banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty; Community, Consumer and Business; and Risk Management and Shared Services. The Corporate and Commercial Specialty segment serves customers including businesses, developers, non-profits, municipalities and financial institutions. The Community, Consumer & Business segment serves individuals, as well as small and mid-sized businesses. The Risk Management and Shared Services segment includes corporate risk management, credit administration, finance, treasury, operations and technology shared functions. The company was founded in 1964 and is headquartered in Green Bay, WI.