Associated Banc (NYSE:ASB) Given New $24.00 Price Target at Barclays

Associated Banc (NYSE:ASB) had its price target upped by research analysts at Barclays from $22.00 to $24.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective indicates a potential upside of 10.09% from the company’s previous close.

A number of other research analysts also recently commented on ASB. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a research note on Tuesday, April 9th. Piper Sandler boosted their price target on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Wells Fargo & Company boosted their price target on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Raymond James boosted their price target on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Associated Banc currently has an average rating of “Hold” and an average price target of $22.88.

Associated Banc Stock Up 2.0 %

NYSE ASB traded up $0.43 during trading hours on Friday, reaching $21.80. 825,341 shares of the company’s stock were exchanged, compared to its average volume of 1,422,899. Associated Banc has a one year low of $14.47 and a one year high of $22.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.88. The company’s 50-day moving average is $20.78 and its two-hundred day moving average is $19.74. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.25 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 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The company had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, analysts forecast that Associated Banc will post 2.13 EPS for the current fiscal year.

Insider Transactions at Associated Banc

In other news, Director John B. Williams sold 2,700 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the sale, the director now directly owns 62,876 shares in the company, valued at $1,229,225.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director John B. Williams sold 2,700 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the sale, the director now directly owns 62,876 shares in the company, valued at $1,229,225.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the sale, the director now owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,710 shares of company stock worth $454,897. Insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in shares of Associated Banc by 64.0% during the third quarter. SG Americas Securities LLC now owns 90,428 shares of the bank’s stock worth $1,547,000 after purchasing an additional 35,279 shares during the period. Commonwealth Equity Services LLC raised its position in Associated Banc by 10.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 35,226 shares of the bank’s stock valued at $603,000 after buying an additional 3,451 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Associated Banc by 15.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,284 shares of the bank’s stock valued at $518,000 after buying an additional 3,947 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Associated Banc by 14.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,227 shares of the bank’s stock valued at $1,270,000 after buying an additional 9,363 shares during the last quarter. Finally, Advisor Partners II LLC raised its position in Associated Banc by 97.2% in the 3rd quarter. Advisor Partners II LLC now owns 20,568 shares of the bank’s stock valued at $352,000 after buying an additional 10,140 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors.

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.