Wells Fargo & Company Increases Associated Banc (NYSE:ASB) Price Target to $27.00

Associated Banc (NYSE:ASB) had its target price increased by analysts at Wells Fargo & Company from $26.00 to $27.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.49% from the company’s current price.

Other analysts also recently issued reports about the company. Royal Bank of Canada upped their price objective on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, Robert W. Baird cut their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.78.

Associated Banc Price Performance

Associated Banc stock opened at $24.66 on Monday. The firm has a market capitalization of $3.73 billion, a PE ratio of 20.55, a P/E/G ratio of 2.07 and a beta of 0.94. Associated Banc has a 52 week low of $19.40 and a 52 week high of $28.18. The firm’s 50-day simple moving average is $25.16 and its 200 day simple moving average is $23.48. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results 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 net margin of 8.15% and a return on equity of 8.18%. On average, equities research analysts predict that Associated Banc will post 2.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction 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 transaction, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ASB. Point72 DIFC Ltd acquired a new stake in shares of Associated Banc in the third quarter valued at about $39,000. Crews Bank & Trust purchased a new stake in shares of Associated Banc during the fourth quarter valued at approximately $56,000. Sugar Maple Asset Management LLC acquired a new position in shares of Associated Banc during the fourth quarter worth $64,000. R Squared Ltd purchased a new position in shares of Associated Banc in the fourth quarter valued at $67,000. Finally, Farther Finance Advisors LLC grew its holdings in Associated Banc by 82.1% during the 3rd 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. 82.98% of the stock is owned by hedge funds and other 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.