Associated Banc-Corp (ASB) Price Target Increased to $22.00 by Analysts at Deutsche Bank AG
Associated Banc-Corp (NYSE:ASB) had its price objective hoisted by equities research analysts at Deutsche Bank AG from $20.00 to $22.00 in a report issued on Tuesday. The firm currently has a “buy” rating on the stock. Deutsche Bank AG’s price objective would suggest a potential upside of 11.11% from the stock’s previous close.
Several other research analysts have also commented on ASB. Zacks Investment Research upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Jefferies Group restated a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Barclays PLC raised their price target on Associated Banc-Corp from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 16th. Finally, DA Davidson started coverage on Associated Banc-Corp in a research report on Monday, October 3rd. They set an “underperform” rating and a $18.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Associated Banc-Corp presently has a consensus rating of “Hold” and an average price target of $19.63.
Shares of Associated Banc-Corp (NYSE:ASB) traded down 1.77% on Tuesday, reaching $19.45. The company had a trading volume of 313,667 shares. The company has a 50 day moving average of $19.58 and a 200-day moving average of $18.39. The company has a market capitalization of $2.89 billion, a P/E ratio of 16.77 and a beta of 1.32. Associated Banc-Corp has a 52 week low of $15.45 and a 52 week high of $20.90.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%. Analysts predict that Associated Banc-Corp will post $1.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 2.22%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 37.93%.
In other Associated Banc-Corp news, CFO Moral-Niles Christopher Del sold 4,814 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $19.57, for a total value of $94,209.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Williams purchased 2,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was acquired at an average price of $19.85 per share, for a total transaction of $39,700.00. The disclosure for this purchase can be found here. 2.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ASB. Foundry Partners LLC boosted its stake in Associated Banc-Corp by 5.0% in the third quarter. Foundry Partners LLC now owns 647,345 shares of the company’s stock worth $12,681,000 after buying an additional 30,850 shares in the last quarter. North Star Asset Management Inc. boosted its stake in Associated Banc-Corp by 0.5% in the third quarter. North Star Asset Management Inc. now owns 69,917 shares of the company’s stock worth $1,370,000 after buying an additional 353 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Associated Banc-Corp by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 25,919 shares of the company’s stock worth $445,000 after buying an additional 91 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in Associated Banc-Corp during the second quarter worth $1,174,000. Finally, Calvert Investment Management Inc. boosted its stake in Associated Banc-Corp by 1.5% in the second quarter. Calvert Investment Management Inc. now owns 12,014 shares of the company’s stock worth $206,000 after buying an additional 179 shares in the last quarter. Institutional investors own 74.28% of the company’s stock.
Associated Banc-Corp Company Profile
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and nonbanking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
Receive News & Stock Ratings for Associated Banc-Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc-Corp and related stocks with our FREE daily email newsletter.