Associated Banc (NYSE:ASB) Price Target Raised to $24.00 at Barclays

Associated Banc (NYSE:ASB) had its target price raised by Barclays from $22.00 to $24.00 in a research report report published on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

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

Associated Banc Trading Up 0.1 %

Shares of ASB opened at $21.59 on Friday. The firm has a fifty day simple moving average of $20.80 and a two-hundred day simple moving average of $19.83. Associated Banc has a twelve month low of $14.47 and a twelve month high of $22.16. The stock has a market capitalization of $3.25 billion, a P/E ratio of 21.81, a PEG ratio of 1.27 and a beta of 1.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, April 25th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. Associated Banc’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. On average, research analysts anticipate that Associated Banc will post 2.13 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently made changes to their positions in the company. Steph & Co. raised its holdings in 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 acquiring an additional 964 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Associated Banc in the fourth quarter worth $28,000. First Command Advisory Services Inc. bought a new position in shares of Associated Banc during the third quarter valued at $29,000. Parallel Advisors LLC boosted its position in shares of Associated Banc by 64.0% during the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after buying an additional 894 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in 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 buying an additional 1,850 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

About Associated Banc

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.