Associated Banc (NYSE:ASB) Price Target Raised to $27.00

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

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird dropped their target price on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a research note on Friday, January 24th. Piper Sandler increased their price target on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Barclays increased their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.00.

Associated Banc Trading Up 0.6 %

Shares of NYSE:ASB opened at $24.80 on Monday. The stock has a market capitalization of $3.75 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. The company’s 50-day moving average price is $25.12 and its two-hundred day moving average price is $23.49. 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 has a one year low of $19.40 and a one year high of $28.18.

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%. On average, equities analysts forecast that Associated Banc will post 2.15 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, March 3rd. Associated Banc’s dividend payout ratio (DPR) is currently 76.67%.

Insider Buying and Selling at Associated Banc

In related news, EVP David L. Stein sold 29,536 shares of the company’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 transaction of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in shares of Associated Banc during the 3rd quarter valued at $39,000. Crews Bank & Trust acquired a new stake in shares of Associated Banc during the fourth quarter valued at about $56,000. Sugar Maple Asset Management LLC bought a new stake in shares of Associated Banc during the fourth quarter worth about $64,000. R Squared Ltd acquired a new position in shares of Associated Banc in the fourth quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC raised its holdings in Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after buying an additional 1,438 shares during the last quarter. 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.