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

Associated Banc (NYSE:ASB) had its price target lowered by stock analysts at Barclays from $28.00 to $25.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective would indicate a potential upside of 21.60% from the stock’s previous close.

ASB has been the subject of several other research reports. Stephens restated an “equal weight” rating and set a $28.00 price target on shares of Associated Banc in a research note on Tuesday, March 25th. Robert W. Baird reduced their target price on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Royal Bank of Canada raised their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company boosted their target price on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.67.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $20.56 on Tuesday. The firm’s fifty day simple moving average is $23.08 and its 200-day simple moving average is $23.93. Associated Banc has a 12 month low of $18.32 and a 12 month high of $28.18. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.88 and a quick ratio of 0.86.

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

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of Associated Banc 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 transaction, the director now owns 49,495 shares in the company, valued at $1,223,021.45. This trade represents a 12.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Williams sold 2,830 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the sale, the director now directly owns 66,915 shares of the company’s stock, valued at $1,678,897.35. This represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Associated Banc

Several institutional investors and hedge funds have recently added to or reduced their stakes in 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 worth $26,000 after purchasing an additional 651 shares in the last quarter. Covestor Ltd grew its stake in Associated Banc by 221.0% during the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock worth $36,000 after buying an additional 1,032 shares during the period. Versant Capital Management Inc increased its position in shares of 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 acquiring an additional 1,280 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Associated Banc by 49.6% in 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 during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Associated Banc during the 3rd quarter valued at $39,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.