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

Associated Banc (NYSE:ASB) had its price objective upped by Barclays from $22.00 to $24.00 in a research note published on Friday, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

ASB has been the subject of a number of other research reports. Piper Sandler boosted their target price on shares of Associated Banc from $21.50 to $23.00 and gave the stock a neutral rating in a research report on Friday, January 26th. Raymond James boosted their target price on shares of Associated Banc from $21.00 to $25.00 and gave the stock an outperform rating in a research report on Monday, January 29th. Wells Fargo & Company boosted their target price on shares of Associated Banc from $20.00 to $22.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $23.00 target price on shares of Associated Banc in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $23.13.

Associated Banc Stock Up 0.9 %

ASB stock opened at $21.57 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. Associated Banc has a 1 year low of $14.47 and a 1 year high of $22.16. The company has a fifty day simple moving average of $20.79 and a 200 day simple moving average of $19.75. The firm has a market cap of $3.25 billion, a PE ratio of 21.79, a PEG ratio of 1.26 and a beta of 1.00.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, April 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Associated Banc had a net margin of 6.86% and a return on equity of 8.33%. The business had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. During the same quarter in the previous year, the business earned $0.66 EPS. Associated Banc’s quarterly revenue was down 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Associated Banc will post 2.13 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 annualized dividend and a dividend yield of 4.08%. Associated Banc’s payout ratio is 88.89%.

Insider Transactions at Associated Banc

In other news, EVP John A. Utz sold 14,010 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $297,012.00. Following the transaction, the executive vice president now owns 89,880 shares in the company, valued at approximately $1,905,456. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP John A. Utz sold 14,010 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total value of $297,012.00. Following the sale, the executive vice president now owns 89,880 shares of the company’s stock, valued at $1,905,456. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eileen A. Kamerick sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the sale, the director now directly owns 50,126 shares in the company, valued at approximately $1,053,648.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,710 shares of company stock worth $454,897. 1.45% of the stock is currently owned by company insiders.

Institutional Trading of Associated Banc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steph & Co. grew its stake in Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after buying an additional 964 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in Associated Banc during the fourth quarter worth about $28,000. First Command Advisory Services Inc. bought a new stake in Associated Banc during the third quarter worth about $29,000. Parallel Advisors LLC grew its stake in Associated Banc by 64.0% during the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after buying an additional 894 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Associated Banc by 183.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after buying an additional 1,850 shares during the last quarter. Institutional investors 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.