Associated Banc (NYSE:ASB) PT Raised to $25.00 at Royal Bank of Canada

Associated Banc (NYSE:ASB) had its price objective increased by equities researchers at Royal Bank of Canada from $24.00 to $25.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s target price indicates a potential upside of 9.12% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Stephens restated an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a research note on Tuesday, July 30th. Baird R W cut Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird cut their price target on Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Jefferies Financial Group decreased their price objective on Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, Piper Sandler raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.89.

Associated Banc Stock Up 1.0 %

Shares of NYSE ASB opened at $22.91 on Friday. The business has a 50-day moving average of $21.79 and a two-hundred day moving average of $21.46. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. Associated Banc has a 1 year low of $15.59 and a 1 year high of $24.21. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89.

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, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The business had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, analysts forecast that Associated Banc will post 2.06 earnings per share for the current fiscal year.

Insider Transactions at Associated Banc

In related news, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the sale, the executive vice president now owns 128,680 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the transaction, the executive vice president now owns 128,680 shares in the company, valued at approximately $2,958,353.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, 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 have sold a total of 33,835 shares of company stock worth $757,214 over the last ninety days. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in shares of Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after acquiring an additional 907 shares during the period. Quest Partners LLC acquired a new position in Associated Banc during the second quarter worth $38,000. Meeder Asset Management Inc. acquired a new position in Associated Banc during the first quarter worth $74,000. Neo Ivy Capital Management purchased a new stake in Associated Banc during the second quarter worth $93,000. Finally, nVerses Capital LLC acquired a new stake in Associated Banc in the second quarter valued at $140,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

About Associated Banc

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.