Associated Banc (NYSE:ASB) PT Raised to $23.00 at Barclays

Associated Banc (NYSE:ASB) had its target price boosted by Barclays from $22.00 to $23.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective indicates a potential upside of 7.28% from the stock’s current price.

Several other research analysts have also issued reports on the stock. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada boosted their price target on Associated Banc from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Baird R W downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Piper Sandler increased their price target on Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group decreased their target price on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Associated Banc presently has a consensus rating of “Hold” and an average target price of $23.78.

Associated Banc Trading Down 0.1 %

Shares of Associated Banc stock opened at $21.44 on Friday. The firm has a market cap of $3.23 billion, a PE ratio of 21.66, a P/E/G ratio of 2.36 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. Associated Banc has a 1 year low of $15.16 and a 1 year high of $24.21. The stock has a fifty day moving average price of $21.76 and a 200-day moving average price of $21.32.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The company had revenue of $321.75 million during the quarter, compared to the consensus estimate of $330.69 million. During the same period last year, the firm earned $0.56 EPS. Associated Banc’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts anticipate that Associated Banc will post 2.07 EPS for the current year.

Insider Buying and Selling

In related news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the transaction, the executive vice president now directly owns 99,637 shares in the company, valued at approximately $2,269,730.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,835 shares of company stock worth $757,214. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steph & Co. lifted its position in Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after purchasing an additional 964 shares during the period. Bessemer Group Inc. raised its position in shares of Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after buying an additional 907 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of Associated Banc during the 4th quarter worth $28,000. Quest Partners LLC acquired a new stake in shares of Associated Banc during the second quarter valued at about $38,000. Finally, 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 worth $49,000 after buying an additional 894 shares during the period. 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.