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

Associated Banc (NYSE:ASB) had its price target upped by Keefe, Bruyette & Woods from $29.00 to $30.00 in a report published on Friday,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $28.00 price objective on shares of Associated Banc in a research report on Thursday, December 5th. Robert W. Baird lowered their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company increased 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. Finally, Barclays increased their price target on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. 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 $26.67.

Associated Banc Stock Performance

Associated Banc stock opened at $25.09 on Friday. The company has a market capitalization of $3.79 billion, a P/E ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94. Associated Banc has a twelve month low of $19.40 and a twelve month high of $28.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average is $25.22 and its 200 day moving average is $23.40.

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, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. On average, equities research analysts predict that Associated Banc will post 2.15 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.67%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date was Monday, December 2nd. Associated Banc’s dividend payout ratio is 76.67%.

Insider Transactions at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 19,044 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 100,204 shares in the company, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their position. 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 stock in a transaction 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 completion of the sale, the executive vice president now owns 81,021 shares of the company’s stock, 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. 1.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new stake in Associated Banc in the 3rd quarter worth $39,000. Crews Bank & Trust purchased a new position in shares of Associated Banc during the fourth quarter valued at about $56,000. Sugar Maple Asset Management LLC purchased a new position in shares of Associated Banc during the fourth quarter valued at about $64,000. R Squared Ltd purchased a new position in shares of Associated Banc during the fourth quarter valued at about $67,000. Finally, Farther Finance Advisors LLC grew its position 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 purchasing an additional 1,438 shares in the last quarter. Hedge funds and other 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.