Piper Sandler Increases Associated Banc (NYSE:ASB) Price Target to $28.00

Associated Banc (NYSE:ASB) had its price target lifted by investment analysts at Piper Sandler from $26.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 6.30% from the company’s previous close.

Several other equities research analysts have also issued reports on ASB. Wells Fargo & Company lifted their price target on shares of Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday. Barclays raised their target price on Associated Banc from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods increased their target price on shares of Associated Banc from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price objective on Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Associated Banc has an average rating of “Hold” and an average target price of $25.56.

Associated Banc Price Performance

NYSE:ASB traded up $0.23 during trading hours on Thursday, reaching $26.34. 188,485 shares of the company were exchanged, compared to its average volume of 1,434,639. The company has a market capitalization of $3.98 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.87 and a beta of 0.93. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average of $24.20 and a 200 day moving average of $22.37. Associated Banc has a 1-year low of $18.88 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same period in the prior year, the company posted $0.53 earnings per share. Research analysts forecast that Associated Banc will post 2.13 EPS for the current year.

Insider Activity

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now owns 54,114 shares in the company, valued at $1,108,254.72. This represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 19,044 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. The trade was a 15.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,641 shares of company stock worth $1,435,936 over the last quarter. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Associated Banc by 3.3% during the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock valued at $177,282,000 after buying an additional 261,877 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Associated Banc by 2.3% during the third quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank’s stock worth $77,219,000 after acquiring an additional 79,658 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Associated Banc by 11.2% in the third quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock worth $65,401,000 after acquiring an additional 305,133 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Associated Banc by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,137,125 shares of the bank’s stock valued at $46,034,000 after purchasing an additional 17,425 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Associated Banc by 291.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after purchasing an additional 1,163,807 shares during the period. 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.