Associated Banc (NYSE:ASB) Price Target Raised to $27.00 at Wells Fargo & Company

Associated Banc (NYSE:ASB) had its target price boosted by Wells Fargo & Company from $26.00 to $27.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other equities research analysts also recently weighed in on the company. Piper Sandler upped their target price on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird reduced their target price on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday. Stephens reaffirmed an “equal weight” rating and set a $28.00 price target on shares of Associated Banc in a report on Friday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.78.

Associated Banc Stock Performance

NYSE ASB opened at $24.92 on Monday. The business’s 50-day simple moving average is $25.19 and its 200-day simple moving average is $23.46. The firm has a market capitalization of $3.77 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.07 and a beta of 0.94. Associated Banc has a 1-year low of $19.40 and a 1-year high of $28.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. Equities analysts predict that Associated Banc will post 2.15 EPS for the current year.

Insider Activity at Associated Banc

In other news, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at approximately $2,423,934.76. The trade was a 15.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Point72 DIFC Ltd bought a new position in Associated Banc in the 3rd quarter valued at about $39,000. Crews Bank & Trust acquired a new stake in shares of Associated Banc in the 4th quarter worth approximately $56,000. Sugar Maple Asset Management LLC bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $64,000. R Squared Ltd bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after acquiring an additional 1,438 shares during the period. 82.98% of the stock is 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.