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

Associated Banc (NYSE:ASB) had its target price upped by Royal Bank of Canada from $26.00 to $27.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the bank’s stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company raised their price objective on shares of Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Robert W. Baird reduced their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday. Barclays increased their price objective on Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Piper Sandler raised their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.67.

Associated Banc Stock Down 1.0 %

ASB stock opened at $25.09 on Friday. The business’s 50 day simple moving average is $25.22 and its 200 day simple moving average is $23.44. Associated Banc has a 1-year low of $19.40 and a 1-year high of $28.18. The firm has a market capitalization of $3.79 billion, a PE ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 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%. As a group, research analysts anticipate that Associated Banc will post 2.15 EPS for the current year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.23 dividend. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Monday, December 2nd. Associated Banc’s dividend payout ratio (DPR) is currently 76.67%.

Insider Activity

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. Also, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

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 bought a new stake in shares of Associated Banc during the fourth quarter worth about $56,000. Sugar Maple Asset Management LLC acquired a new position in shares of Associated Banc in the fourth quarter valued at approximately $64,000. R Squared Ltd bought a new position in Associated Banc in the 4th quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC boosted its position in Associated Banc by 82.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after buying an additional 1,438 shares during the period. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.