Associated Banc (NYSE:ASB) Price Target Lowered to $25.00 at Barclays

Associated Banc (NYSE:ASB) had its target price reduced by research analysts at Barclays from $28.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s price target indicates a potential upside of 33.48% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Stephens restated an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a research note on Tuesday, March 25th. Royal Bank of Canada boosted their price target on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Raymond James cut their price objective on shares of Associated Banc from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Keefe, Bruyette & Woods boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.78.

Associated Banc Stock Down 3.1 %

Shares of NYSE ASB traded down $0.59 during midday trading on Tuesday, hitting $18.73. The stock had a trading volume of 1,082,915 shares, compared to its average volume of 1,476,207. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.10 billion, a P/E ratio of 23.79, a PEG ratio of 1.52 and a beta of 0.78. The business’s 50 day moving average is $23.50 and its 200-day moving average is $24.02. Associated Banc has a 52 week low of $18.33 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. As a group, analysts predict that Associated Banc will post 2.43 EPS for the current year.

Insiders Place Their Bets

In related news, Director John B. Williams sold 2,830 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the completion of the sale, the director now directly owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eileen A. Kamerick sold 7,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the transaction, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. This trade represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by insiders.

Institutional Trading of Associated Banc

Large investors have recently modified their holdings of the company. Quarry LP increased its position in Associated Banc by 154.3% during the 4th quarter. Quarry LP now owns 1,073 shares of the bank’s stock valued at $26,000 after purchasing an additional 651 shares during the period. Covestor Ltd increased its holdings in Associated Banc by 221.0% during the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock valued at $36,000 after buying an additional 1,032 shares during the period. Versant Capital Management Inc raised its stake in Associated Banc by 385.5% in the first quarter. Versant Capital Management Inc now owns 1,612 shares of the bank’s stock worth $36,000 after buying an additional 1,280 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Associated Banc during the third quarter worth $39,000. Finally, Smartleaf Asset Management LLC boosted its position in Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after acquiring an additional 579 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

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.