Associated Banc (NYSE:ASB) Given New $27.00 Price Target at Royal Bank of Canada

Associated Banc (NYSE:ASB) had its price target raised by Royal Bank of Canada from $26.00 to $27.00 in a research report report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

Several other analysts have also recently commented on the stock. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Piper Sandler raised their price objective 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. Robert W. Baird cut their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday. Stephens reaffirmed an “equal weight” rating and set a $28.00 price objective on shares of Associated Banc in a research report on Friday. Finally, Wells Fargo & Company raised 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. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.67.

Associated Banc Stock Performance

Shares of ASB opened at $25.09 on Friday. Associated Banc has a one year low of $19.40 and a one year high of $28.18. The company has a 50-day moving average of $25.22 and a two-hundred day moving average of $23.40. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. On average, equities research analysts expect that Associated Banc will post 2.15 earnings per share for the current year.

Associated Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.23 dividend. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.67%. Associated Banc’s dividend payout ratio (DPR) is presently 76.67%.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares in the company, valued at $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction on 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 in the company, valued at $2,423,934.76. This represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new stake in Associated Banc during the third quarter worth $39,000. Crews Bank & Trust acquired a new stake in Associated Banc during the fourth quarter worth $56,000. Sugar Maple Asset Management LLC acquired a new stake in Associated Banc during the fourth quarter worth $64,000. R Squared Ltd acquired a new stake in shares of Associated Banc in the 4th quarter valued at $67,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,438 shares in the last quarter. 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.