Associated Banc (NYSE:ASB) Price Target Raised to $30.00 at Keefe, Bruyette & Woods

Associated Banc (NYSE:ASB) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $29.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 18.54% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company upped their price target on Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Robert W. Baird cut their price target on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays lifted their target price on Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Piper Sandler lifted their price target on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $28.00 target price on shares of Associated Banc in a report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.33.

Associated Banc Price Performance

Shares of ASB opened at $25.31 on Friday. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.08 and a beta of 0.94. The firm’s fifty day simple moving average is $25.25 and its 200-day simple moving average is $23.37. Associated Banc has a twelve month low of $19.40 and a twelve month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

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

Insider Activity

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

Institutional Investors Weigh In On Associated Banc

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC grew its stake in shares of Associated Banc by 4.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock worth $234,000 after purchasing an additional 525 shares during the period. Intech Investment Management LLC purchased a new position in Associated Banc in the second quarter valued at about $415,000. Thrivent Financial for Lutherans lifted its position in shares of Associated Banc by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 656 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Associated Banc by 43.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,313 shares of the bank’s stock worth $599,000 after acquiring an additional 8,513 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Associated Banc by 12.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock worth $24,309,000 after acquiring an additional 123,271 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

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.