Associated Banc (NYSE:ASB) Price Target Raised to $27.00

Associated Banc (NYSE:ASB) had its price objective upped by Barclays from $24.00 to $27.00 in a research report released on Thursday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

A number of other research analysts have also commented on the stock. Wells Fargo & Company upped their price objective on shares of Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on Associated Banc from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Associated Banc currently has an average rating of “Hold” and an average price target of $25.89.

Associated Banc Price Performance

Shares of NYSE:ASB opened at $26.01 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $24.38 and a 200 day moving average price of $22.43. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.88 and a beta of 0.93. Associated Banc has a twelve month low of $18.96 and a twelve month 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 the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The business had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. During the same quarter last year, the company posted $0.53 earnings per share. Research analysts predict that Associated Banc will post 2.13 earnings per share for the current year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.23 dividend. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. This represents a $0.92 annualized dividend and a yield of 3.54%. Associated Banc’s payout ratio is currently 76.67%.

Insider Buying and Selling at Associated Banc

In other news, EVP David L. Stein sold 29,536 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 19,044 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the sale, the executive vice president now owns 100,204 shares of the company’s stock, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,641 shares of company stock worth $1,435,936 over the last three months. Company insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new position in Associated Banc in the 2nd quarter valued at $38,000. Point72 DIFC Ltd bought a new position in shares of Associated Banc in the third quarter valued at about $39,000. Farther Finance Advisors LLC lifted its position in Associated Banc by 82.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after buying an additional 1,438 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Associated Banc during the 2nd quarter worth about $93,000. Finally, nVerses Capital LLC acquired a new stake in Associated Banc in the 2nd quarter valued at about $140,000. 82.98% of the stock is currently owned by institutional investors.

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.