Associated Banc (NYSE:ASB) PT Raised to $24.00

Associated Banc (NYSE:ASB) had its price objective increased by investment analysts at Barclays from $22.00 to $24.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Barclays‘s price target suggests a potential upside of 11.27% from the stock’s previous close.

ASB has been the topic of several other reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. Piper Sandler increased their price target on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Raymond James increased their price target on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company raised their price objective on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.13.

Associated Banc Price Performance

NYSE:ASB opened at $21.57 on Friday. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.26 and a beta of 1.00. Associated Banc has a 1 year low of $14.47 and a 1 year high of $22.16. The business has a 50 day simple moving average of $20.80 and a 200-day simple moving average of $19.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.87.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Associated Banc had a return on equity of 8.33% and a net margin of 6.86%. The business had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. During the same period last year, the company earned $0.66 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts forecast that Associated Banc will post 2.13 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John A. Utz sold 14,010 shares of Associated Banc stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now directly owns 89,880 shares in the company, valued at approximately $1,905,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP John A. Utz sold 14,010 shares of Associated Banc stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now directly owns 89,880 shares in the company, valued at approximately $1,905,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Williams sold 2,700 shares of Associated Banc stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the completion of the transaction, the director now owns 62,876 shares in the company, valued at $1,229,225.80. The disclosure for this sale can be found here. Insiders have sold 21,710 shares of company stock worth $454,897 in the last ninety days. 1.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Steph & Co. boosted its position in shares of Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after purchasing an additional 964 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Associated Banc in the 4th quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Associated Banc in the 3rd quarter worth $29,000. Parallel Advisors LLC boosted its position in shares of Associated Banc by 64.0% in the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after purchasing an additional 894 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Associated Banc by 183.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after purchasing an additional 1,850 shares in the last quarter. 82.98% of the stock is currently 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. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.