Associated Banc (NYSE:ASB) Price Target Increased to $23.00 by Analysts at Barclays

Associated Banc (NYSE:ASB) had its target price hoisted by Barclays from $22.00 to $23.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

ASB has been the subject of a number of other reports. Baird R W cut shares of Associated Banc from a strong-buy rating to a hold rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company a market perform rating in a report on Friday, July 26th. Robert W. Baird dropped their target price on shares of Associated Banc from $27.00 to $25.00 and set a neutral rating for the company in a report on Friday, July 26th. Royal Bank of Canada increased their target price on shares of Associated Banc from $23.00 to $25.00 and gave the company a sector perform rating in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of Associated Banc from a sell rating to a hold rating in a research report on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Associated Banc has a consensus rating of Hold and a consensus price target of $23.78.

Associated Banc Trading Down 0.1 %

NYSE ASB opened at $21.44 on Friday. The stock has a market capitalization of $3.23 billion, a P/E ratio of 21.66, a P/E/G ratio of 2.36 and a beta of 0.93. Associated Banc has a 52-week low of $15.16 and a 52-week high of $24.21. The firm has a 50-day moving average price of $21.76 and a 200 day moving average price of $21.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The firm had revenue of $321.75 million during the quarter, compared to analysts’ expectations of $330.69 million. During the same period in the prior year, the company posted $0.56 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that Associated Banc will post 2.07 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 4.10%. Associated Banc’s dividend payout ratio (DPR) is currently 88.89%.

Insider Buying and Selling

In related news, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the sale, the executive vice president now owns 128,680 shares in the company, valued at $2,958,353.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the transaction, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lith Karen Van sold 8,061 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the transaction, the director now directly owns 54,114 shares in the company, valued at approximately $1,108,254.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,835 shares of company stock worth $757,214. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Associated Banc

A number of large investors have recently bought and sold shares of ASB. Norges Bank purchased a new position in Associated Banc during the fourth quarter worth approximately $36,722,000. Corient Private Wealth LLC raised its stake in Associated Banc by 7.2% during the fourth quarter. Corient Private Wealth LLC now owns 40,608 shares of the bank’s stock worth $869,000 after purchasing an additional 2,745 shares during the period. US Bancorp DE raised its stake in shares of Associated Banc by 1.9% in the 4th quarter. US Bancorp DE now owns 81,544 shares of the bank’s stock valued at $1,744,000 after acquiring an additional 1,492 shares during the period. Parallel Advisors LLC raised its stake in shares of Associated Banc by 64.0% in the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after acquiring an additional 894 shares during the period. Finally, United Services Automobile Association purchased a new position in shares of Associated Banc in the 4th quarter valued at $237,000. 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.