Associated Banc (NYSE:ASB – Get Free Report) had its price target increased by investment analysts at Wells Fargo & Company from $26.00 to $27.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 9.49% from the company’s current price.
ASB has been the topic of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. Stephens reissued an “equal weight” rating and issued a $28.00 price objective on shares of Associated Banc in a research report on Friday, January 24th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Piper Sandler increased their target price on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, Robert W. Baird decreased their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.78.
Get Our Latest Stock Report on ASB
Associated Banc Price Performance
Associated Banc (NYSE:ASB – Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. Sell-side analysts anticipate that Associated Banc will post 2.15 earnings per share for the current year.
Insider Activity at Associated Banc
In related news, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares in the company, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.45% of the stock is currently owned by insiders.
Institutional Trading of Associated Banc
Several hedge funds have recently modified their holdings of the business. State Street Corp grew its holdings in Associated Banc by 3.3% during the third quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock worth $177,282,000 after acquiring an additional 261,877 shares during the period. Geode Capital Management LLC boosted its position in shares of Associated Banc by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank’s stock worth $77,219,000 after purchasing an additional 79,658 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Associated Banc by 11.2% in the 3rd quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock valued at $65,401,000 after purchasing an additional 305,133 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 during the period. Finally, Millennium Management LLC boosted its holdings in Associated Banc by 291.3% during the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock worth $33,063,000 after buying an additional 1,163,807 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.
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.
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