Associated Banc (NYSE:ASB) Stock Gets Price Target Bump from Barclays

Associated Banc (NYSE:ASB) had its target price raised by stock analysts at Barclays from $34.00 to $35.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Barclays‘s price objective indicates a potential upside of 21.07% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company cut their price objective on Associated Banc from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. Raymond James Financial lifted their target price on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a report on Monday, September 21st. Piper Sandler restated a “neutral” rating and set a $34.00 price target on shares of Associated Banc in a research report on Wednesday, August 26th. Finally, Truist Financial raised their price objective on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Associated Banc Price Performance

Associated Banc stock opened at $28.91 on Monday. Associated Banc has a 52 week low of $23.86 and a 52 week high of $32.46. The company’s 50 day moving average price is $30.45 and its two-hundred day moving average price is $29.13. The stock has a market cap of $5.46 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.97 and a beta of 0.80. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Associated Banc (NYSE:ASB) last released 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. The company had revenue of $454.54 million during the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities analysts predict that Associated Banc will post 2.95 earnings per share for the current year.

Insiders Place Their Bets

In other Associated Banc news, EVP Gregory Warsek sold 16,300 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total value of $521,763.00. Following the completion of the sale, the executive vice president directly owned 13,809 shares of the company’s stock, valued at $442,026.09. This trade represents a 54.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Randall Erickson sold 43,561 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.04, for a total value of $1,395,694.44. Following the completion of the sale, the executive vice president owned 56,091 shares in the company, valued at approximately $1,797,155.64. The trade was a 43.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 78,833 shares of company stock valued at $2,502,103. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in Associated Banc by 134.1% during the 1st quarter. Sei Investments Co. now owns 433,405 shares of the bank’s stock worth $11,208,000 after purchasing an additional 248,265 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Associated Banc by 14.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,453 shares of the bank’s stock valued at $12,322,000 after buying an additional 51,068 shares in the last quarter. BlackRock Inc. purchased a new position in Associated Banc during the 2nd quarter valued at about $715,927,000. Hsbc Holdings PLC purchased a new position in Associated Banc during the 2nd quarter valued at about $2,892,000. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Associated Banc during the second quarter valued at about $2,048,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Company Profile

Associated Banc-Corp (NYSE: ASB) is a bank holding company headquartered in Green Bay, Wisconsin. Its principal subsidiary, Associated Bank, provides banking and financial services to consumers, businesses, institutions and municipalities.

The company offers deposit accounts, residential and commercial real estate lending, business loans, consumer financing, cash-management and treasury services, credit cards, wealth management, investment services and insurance products. Associated also provides specialized financial services for commercial and corporate clients, including relationship banking and capital-market support.

Associated Bank serves customers through branches, offices and digital banking channels across Wisconsin and portions of Illinois and Minnesota.