Piper Sandler Increases Associated Banc (NYSE:ASB) Price Target to $18.50

Associated Banc (NYSE:ASB) had its target price hoisted by investment analysts at Piper Sandler from $18.00 to $18.50 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target suggests a potential upside of 9.14% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Raymond James upped their price objective on shares of Associated Banc from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Royal Bank of Canada increased their target price on shares of Associated Banc from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Friday. Wells Fargo & Company reissued an “equal weight” rating on shares of Associated Banc in a research report on Wednesday, October 4th. Robert W. Baird raised shares of Associated Banc from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $19.00 to $24.00 in a research report on Tuesday, September 5th. Finally, StockNews.com initiated coverage on shares of Associated Banc in a research note on Thursday, October 5th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Associated Banc presently has an average rating of “Hold” and an average target price of $20.56.

Associated Banc Trading Up 0.6 %

NYSE ASB opened at $16.95 on Friday. The company has a market capitalization of $2.56 billion, a PE ratio of 6.92, a P/E/G ratio of 0.94 and a beta of 1.01. The company has a fifty day moving average of $16.77 and a 200 day moving average of $16.83. Associated Banc has a 1 year low of $14.47 and a 1 year high of $25.50. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.93 and a quick ratio of 0.93.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $575.22 million during the quarter, compared to the consensus estimate of $327.83 million. Associated Banc had a net margin of 18.25% and a return on equity of 9.73%. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Research analysts forecast that Associated Banc will post 2.24 earnings per share for the current year.

Hedge Funds Weigh In On Associated Banc

Several large investors have recently bought and sold shares of ASB. Foundry Partners LLC raised its position in Associated Banc by 42.6% during the third quarter. Foundry Partners LLC now owns 296,891 shares of the bank’s stock valued at $5,080,000 after acquiring an additional 88,740 shares in the last quarter. EMC Capital Management increased its position in Associated Banc by 311.3% during the third quarter. EMC Capital Management now owns 20,707 shares of the bank’s stock worth $354,000 after acquiring an additional 15,672 shares during the period. WBI Investments Inc. bought a new position in Associated Banc during the third quarter worth $4,631,000. Deutsche Bank AG boosted its stake in Associated Banc by 7.7% during the third quarter. Deutsche Bank AG now owns 123,392 shares of the bank’s stock worth $2,111,000 after buying an additional 8,836 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in Associated Banc by 8.0% during the third quarter. Greenleaf Trust now owns 16,257 shares of the bank’s stock worth $278,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 80.52% 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 operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.