Associated Banc (NYSE:ASB) Given New $30.00 Price Target at Truist Financial

Associated Banc (NYSE:ASB) had its price objective increased by Truist Financial from $29.00 to $30.00 in a report released on Monday morning, Marketbeat Ratings reports. Truist Financial currently has a hold rating on the bank’s stock.

A number of other research analysts also recently commented on ASB. Weiss Ratings reissued a “hold (c+)” rating on shares of Associated Banc in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday. Royal Bank Of Canada upped their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday. Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group reissued a “buy” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Tuesday, December 2nd. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.20.

Associated Banc Stock Performance

Associated Banc stock opened at $26.94 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50-day moving average is $26.28 and its 200 day moving average is $25.80. Associated Banc has a 1-year low of $18.32 and a 1-year high of $28.02. The firm has a market capitalization of $4.47 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.73 and a beta of 0.79.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The business had revenue of $393.52 million for the quarter, compared to the consensus estimate of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same period in the prior year, the firm earned $0.72 EPS. Research analysts forecast that Associated Banc will post 2.43 EPS for the current year.

Insider Transactions at Associated Banc

In related news, EVP Patrick Edward Ahern sold 30,489 shares of Associated Banc stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.70, for a total value of $783,567.30. Following the completion of the sale, the executive vice president directly owned 24,055 shares in the company, valued at $618,213.50. This trade represents a 55.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John A. Utz sold 2,135 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the transaction, the executive vice president owned 109,842 shares in the company, valued at $2,900,927.22. The trade was a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,951 shares of company stock worth $925,756 in the last 90 days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

A number of large investors have recently made changes to their positions in ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Associated Banc by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after acquiring an additional 5,531 shares during the last quarter. Millennium Management LLC raised its stake in shares of Associated Banc by 90.4% in the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock worth $6,486,000 after purchasing an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after purchasing an additional 1,598,951 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Associated Banc by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after purchasing an additional 60,758 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in Associated Banc in the second quarter valued at approximately $328,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.