Raymond James Lowers Associated Banc (NYSE:ASB) Price Target to $28.00

Associated Banc (NYSE:ASB) had its target price decreased by analysts at Raymond James from $30.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Raymond James’ target price points to a potential upside of 26.84% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Barclays increased their target price on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Piper Sandler increased their target price on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, StockNews.com lowered shares of Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.11.

Associated Banc Stock Down 2.5 %

Shares of Associated Banc stock traded down $0.57 during trading hours on Monday, reaching $22.08. 394,766 shares of the company’s stock were exchanged, compared to its average volume of 1,361,762. The stock has a market cap of $3.67 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.52 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $24.58 and a two-hundred day moving average of $24.01. Associated Banc has a fifty-two week low of $19.76 and a fifty-two week high of $28.18.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. On average, sell-side analysts forecast that Associated Banc will post 2.43 EPS for the current fiscal year.

Insider Transactions at Associated Banc

In related news, Director John B. Williams sold 2,830 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the completion of the sale, the director now owns 66,915 shares in the company, valued at $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen A. Kamerick sold 7,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the sale, the director now directly owns 49,495 shares of the company’s stock, valued at $1,223,021.45. The trade was a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP grew its holdings in shares of Associated Banc by 154.3% during the 4th quarter. Quarry LP now owns 1,073 shares of the bank’s stock worth $26,000 after purchasing an additional 651 shares during the period. Covestor Ltd grew its position in shares of Associated Banc by 221.0% in the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock worth $36,000 after acquiring an additional 1,032 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Associated Banc during the third quarter valued at $39,000. Smartleaf Asset Management LLC boosted its stake in Associated Banc by 49.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after acquiring an additional 579 shares during the period. Finally, Crews Bank & Trust bought a new position in shares of Associated Banc during the fourth quarter worth about $56,000. Institutional investors and hedge funds 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.