Associated Banc (NYSE:ASB) Price Target Increased to $24.00 by Analysts at Barclays

Associated Banc (NYSE:ASB) had its price objective increased by Barclays from $23.00 to $24.00 in a report issued on Friday, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other equities analysts also recently issued research reports about the company. Robert W. Baird lowered their price target on Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Piper Sandler raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. StockNews.com lowered shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Wednesday. Jefferies Financial Group lowered their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Finally, Baird R W cut Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Associated Banc has an average rating of “Hold” and a consensus target price of $23.89.

Associated Banc Stock Performance

ASB stock opened at $22.93 on Friday. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.66 and a beta of 0.93. The firm has a 50 day moving average of $21.79 and a two-hundred day moving average of $21.46. 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 has a 12 month low of $15.59 and a 12 month high of $24.21.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. The company had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. During the same period last year, the company earned $0.53 earnings per share. As a group, equities analysts anticipate that Associated Banc will post 2.06 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.84%. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

Insiders Place Their Bets

In related news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now owns 54,114 shares in the company, valued at $1,108,254.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the transaction, the executive vice president now owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,835 shares of company stock valued at $757,214. Insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Hedge funds have recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in Associated Banc by 285.2% in the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after purchasing an additional 907 shares during the period. Quest Partners LLC acquired a new stake in shares of Associated Banc during the second quarter worth $38,000. Meeder Asset Management Inc. acquired a new position in Associated Banc in the 1st quarter worth $74,000. Neo Ivy Capital Management acquired a new stake in shares of Associated Banc in the 2nd quarter valued at about $93,000. Finally, nVerses Capital LLC acquired a new position in shares of Associated Banc during the second quarter worth about $140,000. 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.