Associated Banc (NYSE:ASB) Given New $27.00 Price Target at Barclays

Associated Banc (NYSE:ASB) had its price target lifted by Barclays from $24.00 to $27.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Barclays‘s price target points to a potential upside of 3.37% from the stock’s previous close.

ASB has been the subject of several other research reports. Royal Bank of Canada upped their price objective on shares of Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods upped their target price on Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.11.

Associated Banc Stock Up 0.7 %

ASB stock opened at $26.12 on Thursday. Associated Banc has a fifty-two week low of $18.63 and a fifty-two week high of $28.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.87 and a beta of 0.93. The business’s fifty day moving average price is $24.20 and its two-hundred day moving average price is $22.37.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The business had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. During the same period last year, the firm earned $0.53 earnings per share. On average, equities analysts anticipate that Associated Banc will post 2.13 earnings per share for the current year.

Insider Activity

In related news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the transaction, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 19,044 shares of the business’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 completion of the transaction, the executive vice president now owns 100,204 shares in the company, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,641 shares of company stock valued at $1,435,936 over the last quarter. 1.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new position in Associated Banc during the 2nd quarter worth $38,000. Point72 DIFC Ltd bought a new position in shares of Associated Banc during the 3rd quarter worth approximately $39,000. Farther Finance Advisors LLC boosted its stake in shares of Associated Banc by 82.1% in 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 last quarter. Neo Ivy Capital Management bought a new position in shares of Associated Banc in the second quarter valued at approximately $93,000. Finally, nVerses Capital LLC purchased a new stake in shares of Associated Banc during the second quarter valued at approximately $140,000. 82.98% of the stock is 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.