RBC Capital analyst Jon Arfstrom maintained a Hold rating on Associated Banc-Corp (ASB – Research Report) on April 9 and set a price target of $23.00. The company’s shares closed yesterday at $20.59.
According to TipRanks, Arfstrom is a 5-star analyst with an average return of 14.3% and a 53.39% success rate. Arfstrom covers the Financial sector, focusing on stocks such as NY Community, Capital One Financial, and Discover Financial Services.
Currently, the analyst consensus on Associated Banc-Corp is a Hold with an average price target of $23.33, which is a 13.31% upside from current levels. In a report released yesterday, Wells Fargo also assigned a Hold rating to the stock with a $22.00 price target.
Based on Associated Banc-Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $122.39 million and a GAAP net loss of $90.81 million. In comparison, last year the company earned a revenue of $350.65 million and had a net profit of $108.76 million
Based on the recent corporate insider activity of 200 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ASB in relation to earlier this year. Last month, John Utz, the EVP of ASB sold 14,010.00 shares for a total of $297,019.73.
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Associated Banc-Corp (ASB) Company Description:
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.
