Associated Banc (NYSE:ASB) PT Raised to $24.00 at Barclays

Associated Banc (NYSE:ASB) had its price objective boosted by equities research analysts at Barclays from $23.00 to $24.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s target price indicates a potential upside of 4.76% from the stock’s previous close.

ASB has been the topic of a number of other reports. Jefferies Financial Group lowered their price objective on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Robert W. Baird lowered their price target on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada increased their price objective on Associated Banc from $23.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.89.

Associated Banc Price Performance

ASB opened at $22.91 on Friday. Associated Banc has a 12-month low of $15.59 and a 12-month high of $24.21. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $3.45 billion, a P/E ratio of 23.14, a PEG ratio of 1.66 and a beta of 0.93. The stock has a fifty day moving average of $21.79 and a 200-day moving average of $21.46.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The firm had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same period in the prior year, the business earned $0.53 EPS. Equities analysts forecast that Associated Banc will post 2.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Randall J. Erickson sold 23,774 shares of Associated Banc stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the transaction, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the sale, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now owns 54,114 shares in the company, valued at $1,108,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,835 shares of company stock valued at $757,214 over the last 90 days. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Associated Banc

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its position in Associated Banc by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,220 shares of the bank’s stock worth $370,000 after purchasing an additional 1,170 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Associated Banc by 2.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank’s stock worth $419,000 after buying an additional 525 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Associated Banc by 134.7% during the third quarter. Assenagon Asset Management S.A. now owns 129,939 shares of the bank’s stock valued at $2,799,000 after acquiring an additional 74,574 shares during the period. Greenleaf Trust raised its holdings in Associated Banc by 7.9% in the 3rd quarter. Greenleaf Trust now owns 11,596 shares of the bank’s stock valued at $250,000 after acquiring an additional 853 shares in the last quarter. Finally, nVerses Capital LLC lifted its position in shares of Associated Banc by 124.2% in the 3rd quarter. nVerses Capital LLC now owns 14,800 shares of the bank’s stock worth $319,000 after acquiring an additional 8,200 shares during the period. Institutional investors own 82.98% of the company’s stock.

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.