Associated Banc (NYSE:ASB) Given New $32.00 Price Target at Truist Financial

Associated Banc (NYSE:ASB) had its price target lifted by equities research analysts at Truist Financial from $30.00 to $32.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective suggests a potential upside of 4.94% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird boosted their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Stephens upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $30.00 to $29.00 in a research report on Friday, March 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Zacks Research lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Raymond James Financial increased their price target on shares of Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Six research 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 $31.00.

Associated Banc Stock Performance

Shares of NYSE:ASB traded up $0.10 during trading on Friday, hitting $30.50. 277,270 shares of the stock were exchanged, compared to its average volume of 2,276,561. Associated Banc has a 1-year low of $23.63 and a 1-year high of $31.50. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.10 and a beta of 0.76. The company’s fifty day simple moving average is $28.83 and its 200-day simple moving average is $27.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $387.21 million during the quarter, compared to analyst estimates of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same period in the prior year, the company posted $0.59 earnings per share. Sell-side analysts expect that Associated Banc will post 2.91 EPS for the current fiscal year.

Insider Activity at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the transaction, the executive vice president directly owned 118,156 shares in the company, valued at approximately $3,405,255.92. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Williams sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total transaction of $112,720.00. Following the completion of the transaction, the director directly owned 67,420 shares in the company, valued at approximately $1,899,895.60. The trade was a 5.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,299 shares of company stock worth $801,760 in the last quarter. Insiders own 0.71% of the company’s stock.

Institutional Trading of Associated Banc

Institutional investors and hedge funds have recently modified their holdings of the stock. IAG Wealth Partners LLC grew its holdings in Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Associated Banc in the fourth quarter worth $33,000. EverSource Wealth Advisors LLC boosted its position in shares of Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after purchasing an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Associated Banc during the third quarter worth $51,000. Finally, Hoese & Co LLP bought a new position in shares of Associated Banc during the fourth quarter worth $52,000. 82.98% of the stock is owned by institutional investors.

Associated Banc Company Profile

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.