Associated Banc (NYSE:ASB – Get Rating) had its target price reduced by research analysts at Piper Sandler from $26.00 to $24.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 9.74% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. Bank of America restated an “underperform” rating and issued a $23.00 price target on shares of Associated Banc in a research report on Tuesday, January 18th. Wells Fargo & Company raised Associated Banc from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $26.00 to $28.00 in a report on Monday, March 21st. Finally, StockNews.com began coverage on Associated Banc in a report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc presently has a consensus rating of “Hold” and an average target price of $24.60.
Shares of ASB opened at $21.87 on Friday. The company’s 50 day simple moving average is $23.24 and its 200-day simple moving average is $23.26. The firm has a market cap of $3.28 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.52 and a beta of 1.02. Associated Banc has a 12-month low of $18.40 and a 12-month high of $25.78. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.
In other news, EVP Matthew R. Braeger sold 10,994 shares of the company’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $25.47, for a total transaction of $280,017.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lith Karen Van sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $22.86, for a total transaction of $102,870.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,394 shares of company stock valued at $623,240. Company insiders own 3.04% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Associated Banc by 2.2% during the 4th quarter. BlackRock Inc. now owns 17,540,484 shares of the bank’s stock worth $396,237,000 after acquiring an additional 375,548 shares in the last quarter. Pzena Investment Management LLC boosted its position in Associated Banc by 0.6% during the fourth quarter. Pzena Investment Management LLC now owns 3,498,138 shares of the bank’s stock worth $79,023,000 after purchasing an additional 20,871 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Associated Banc by 160.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,913,446 shares of the bank’s stock valued at $65,815,000 after purchasing an additional 1,796,682 shares during the last quarter. Associated Banc Corp increased its position in shares of Associated Banc by 2.4% in the third quarter. Associated Banc Corp now owns 2,690,649 shares of the bank’s stock valued at $57,634,000 after buying an additional 64,230 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Associated Banc in the fourth quarter valued at $53,255,000. Institutional investors own 77.86% of the company’s stock.
Associated Banc Company Profile (Get Rating)
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.
- Get a free copy of the StockNews.com research report on Associated Banc (ASB)
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