Associated Banc (NYSE:ASB) Price Target Raised to $36.00 at Wells Fargo & Company

Associated Banc (NYSE:ASB) had its price target raised by investment analysts at Wells Fargo & Company from $32.00 to $36.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 15.18% from the company’s current price.

A number of other brokerages have also weighed in on ASB. Truist Financial boosted their price target on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Barclays increased their price objective on shares of Associated Banc from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Raymond James Financial upped their price target on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Piper Sandler lifted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Associated Banc presently has a consensus rating of “Moderate Buy” and an average price target of $31.60.

Associated Banc Stock Down 0.1%

Shares of Associated Banc stock traded down $0.03 during trading on Monday, reaching $31.25. The company’s stock had a trading volume of 506,316 shares, compared to its average volume of 2,216,590. Associated Banc has a 1-year low of $23.74 and a 1-year high of $32.00. The company has a 50-day simple moving average of $30.09 and a two-hundred day simple moving average of $28.15. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.06 and a beta of 0.77.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The company had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. During the same period in the prior year, the company posted $0.65 EPS. As a group, equities analysts forecast that Associated Banc will post 2.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP John A. Utz sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total value of $144,100.00. Following the sale, the executive vice president owned 118,156 shares in the company, valued at $3,405,255.92. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicole M. Kitowski sold 7,663 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total value of $236,863.33. Following the completion of the sale, the executive vice president owned 45,327 shares in the company, valued at $1,401,057.57. The trade was a 14.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 41,962 shares of company stock worth $1,233,303. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Hedge funds have recently bought and sold shares of the stock. Meeder Advisory Services Inc. acquired a new stake in shares of Associated Banc during the 2nd quarter worth approximately $208,000. Pzena Investment Management LLC purchased a new position in shares of Associated Banc during the 2nd quarter valued at approximately $61,240,000. Citizens Financial Group Inc. RI acquired a new position in shares of Associated Banc in the 2nd quarter valued at $229,000. BlackRock Inc. acquired a new position in shares of Associated Banc in the 2nd quarter valued at $715,927,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Associated Banc during the second quarter worth $540,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.