Associated Banc (NYSE:ASB) Price Target Raised to $25.00

Associated Banc (NYSE:ASB) had its target price raised by Royal Bank of Canada from $24.00 to $25.00 in a report issued on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

ASB has been the topic of several other research reports. Piper Sandler increased 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. StockNews.com cut shares of Associated Banc from a “hold” rating to a “sell” rating in a research note on Wednesday, October 23rd. Baird R W cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird lowered their price objective on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Associated Banc currently has a consensus rating of “Hold” and a consensus target price of $23.89.

Associated Banc Stock Performance

Shares of NYSE ASB opened at $23.78 on Friday. The firm’s 50-day moving average price is $21.83 and its 200-day moving average price is $21.49. 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 market cap of $3.59 billion, a PE ratio of 24.02, a PEG ratio of 1.66 and a beta of 0.93. Associated Banc has a 52-week low of $15.94 and a 52-week high of $24.21.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating 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 7.93% and a return on equity of 8.14%. During the same quarter last year, the firm posted $0.53 EPS. As a group, analysts anticipate that Associated Banc will post 2.06 EPS for the current year.

Insider Activity

In other news, EVP Randall J. Erickson sold 23,774 shares of Associated Banc stock in a transaction that occurred 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 in the company, valued at $2,958,353.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Randall J. Erickson sold 23,774 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. This trade represents a 0.00 % decrease in their ownership of the stock. 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 quarter. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Associated Banc by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after purchasing an additional 184,813 shares in the last quarter. LSV Asset Management grew its holdings in shares of Associated Banc by 43.3% in the first quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after purchasing an additional 1,224,216 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Associated Banc by 291.3% in the second 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 in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Associated Banc by 12.0% in the second quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock valued at $24,309,000 after purchasing an additional 123,271 shares in the last quarter. Finally, Interval Partners LP boosted its stake in Associated Banc by 27.6% during the second quarter. Interval Partners LP now owns 442,947 shares of the bank’s stock worth $9,368,000 after buying an additional 95,928 shares during the period. 82.98% of the stock is owned by hedge funds and other 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.