Barclays Raises Associated Banc (NYSE:ASB) Price Target to $28.00

Associated Banc (NYSE:ASB) had its price target lifted by Barclays from $27.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective would suggest a potential upside of 16.72% from the company’s previous close.

A number of other analysts have also recently weighed in on ASB. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Thursday, December 5th. Wells Fargo & Company upped their target price on Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler raised their target price on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Associated Banc Trading Up 1.2 %

NYSE ASB opened at $23.99 on Thursday. Associated Banc has a 1-year low of $19.40 and a 1-year high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $3.63 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The firm’s fifty day simple moving average is $25.15 and its 200-day simple moving average is $22.69.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The firm had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Associated Banc will post 2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of Associated Banc during the 2nd quarter valued at $38,000. Point72 DIFC Ltd bought a new stake in Associated Banc in the third quarter valued at about $39,000. Farther Finance Advisors LLC lifted its stake in Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after buying an additional 1,438 shares during the period. nVerses Capital LLC bought a new position in Associated Banc during the second quarter worth about $140,000. Finally, Meeder Asset Management Inc. grew its position in shares of Associated Banc by 138.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 8,222 shares of the bank’s stock worth $174,000 after buying an additional 4,775 shares during the period. 82.98% of the stock is owned by institutional investors.

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.