Associated Banc (NYSE:ASB) Price Target Raised to $37.00

Associated Banc (NYSE:ASB) had its price objective increased by Barclays from $35.00 to $37.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Barclays‘s price target would indicate a potential upside of 18.84% from the stock’s previous close.

ASB has been the topic of several other research reports. Wells Fargo & Company lowered their target price on shares of Associated Banc from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 29th. Royal Bank Of Canada lifted their price target on shares of Associated Banc from $33.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Piper Sandler raised their price target on shares of Associated Banc from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Truist Financial increased their price objective on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a report on Monday, September 21st. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc has an average rating of “Moderate Buy” and an average target price of $32.70.

Associated Banc Stock Performance

Shares of ASB opened at $31.13 on Tuesday. Associated Banc has a 1 year low of $23.87 and a 1 year high of $32.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.01 and a beta of 0.80. The firm has a fifty day moving average of $29.69 and a 200-day moving average of $28.68.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $468.51 million for the quarter, compared to analysts’ expectations of $463.69 million. Associated Banc had a return on equity of 10.75% and a net margin of 19.87%. During the same quarter in the previous year, the company posted $0.73 earnings per share. As a group, equities analysts anticipate that Associated Banc will post 2.99 earnings per share for the current year.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP Randall J. Erickson sold 43,561 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 56,091 shares of the company’s stock, valued at $1,797,155.64. This represents a 43.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick Ahern sold 1,309 shares of Associated Banc stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total value of $40,382.65. Following the sale, the executive vice president directly owned 43,743 shares of the company’s stock, valued at approximately $1,349,471.55. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,170 shares of company stock worth $1,957,840 in the last ninety days. Insiders own 0.71% of the company’s stock.

Institutional Trading of Associated Banc

A number of institutional investors have recently bought and sold shares of ASB. BlackRock Inc. acquired a new stake in Associated Banc during the second quarter worth approximately $715,927,000. Dimensional Fund Advisors LP raised its stake in Associated Banc by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,811,228 shares of the bank’s stock worth $253,709,000 after acquiring an additional 170,080 shares in the last quarter. First Trust Advisors LP raised its stake in Associated Banc by 127.6% during the first quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock worth $154,416,000 after acquiring an additional 3,347,699 shares in the last quarter. Associated Banc Corp acquired a new position in Associated Banc during the third quarter worth about $67,673,000. Finally, Pzena Investment Management LLC bought a new position in shares of Associated Banc in the second quarter worth about $61,240,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

Associated Banc-Corp is a regional bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Associated Bank, it provides banking and financial services to individuals, families, businesses and institutions.

Associated Bank offers commercial and corporate banking, retail banking, mortgage lending, consumer lending, treasury management, investment and wealth management, and institutional services. Its business banking activities include lending, deposit accounts, cash-management solutions and other services designed for small and middle-market companies.

The company primarily serves customers across Wisconsin, Illinois and Minnesota through its branch network and digital banking channels.