Associated Banc (NYSE:ASB) PT Raised to $24.00 at Barclays

Associated Banc (NYSE:ASB) had its price objective boosted by stock analysts at Barclays from $23.00 to $24.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective would suggest a potential upside of 4.76% from the company’s current price.

Several other brokerages also recently commented on ASB. Stephens restated an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a research note on Tuesday, July 30th. Piper Sandler upped their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Jefferies Financial Group dropped their price objective on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price target on Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on Associated Banc from $23.00 to $25.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.89.

Associated Banc Stock Up 1.0 %

Shares of ASB opened at $22.91 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $21.79 and a two-hundred day moving average price of $21.46. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 1.66 and a beta of 0.93. Associated Banc has a 12 month low of $15.59 and a 12 month high of $24.21.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The business had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same quarter last year, the company earned $0.53 EPS. Equities analysts predict that Associated Banc will post 2.06 EPS for the current fiscal year.

Insider Activity at Associated Banc

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the sale, the director now directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction that occurred on 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 directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Randall J. Erickson sold 23,774 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the sale, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,835 shares of company stock worth $757,214 over the last 90 days. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Several hedge funds have recently added to or reduced their stakes in ASB. State of Alaska Department of Revenue increased its stake in shares of Associated Banc by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,220 shares of the bank’s stock valued at $370,000 after acquiring an additional 1,170 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Associated Banc by 2.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank’s stock worth $419,000 after acquiring an additional 525 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Associated Banc by 134.7% during the third quarter. Assenagon Asset Management S.A. now owns 129,939 shares of the bank’s stock valued at $2,799,000 after purchasing an additional 74,574 shares during the period. Greenleaf Trust increased its stake in Associated Banc by 7.9% in the third quarter. Greenleaf Trust now owns 11,596 shares of the bank’s stock valued at $250,000 after purchasing an additional 853 shares in the last quarter. Finally, nVerses Capital LLC raised its holdings in Associated Banc by 124.2% in the third quarter. nVerses Capital LLC now owns 14,800 shares of the bank’s stock worth $319,000 after purchasing an additional 8,200 shares during the period. 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.