Associated Banc (NYSE:ASB) Given New $35.00 Price Target at Barclays

Associated Banc (NYSE:ASB) had its target price upped by Barclays from $34.00 to $35.00 in a research report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the bank’s stock.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler reissued a “neutral” rating and issued a $34.00 price objective on shares of Associated Banc in a research note on Wednesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Associated Banc in a report on Monday, September 21st. Raymond James Financial increased their price target on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Wells Fargo & Company dropped their price objective on shares of Associated Banc from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, September 29th. Finally, Truist Financial lifted their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Associated Banc Stock Up 0.2%

Associated Banc stock opened at $29.05 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 0.97 and a beta of 0.80. Associated Banc has a fifty-two week low of $23.86 and a fifty-two week high of $32.46. The stock’s fifty day moving average is $30.49 and its two-hundred day moving average is $29.10.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The business had revenue of $454.54 million during the quarter, compared to analysts’ expectations of $438.01 million. During the same quarter last year, the business posted $0.65 earnings per share. Analysts predict that Associated Banc will post 2.95 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.24 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.3%. Associated Banc’s payout ratio is 33.57%.

Insider Activity at Associated Banc

In other Associated Banc news, EVP Randall Erickson sold 43,561 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the transaction, the executive vice president owned 56,091 shares of the company’s stock, valued at $1,797,155.64. This represents a 43.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Derek Meyer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total value of $307,400.00. Following the sale, the executive vice president owned 61,662 shares in the company, valued at $1,895,489.88. This trade represents a 13.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 78,833 shares of company stock worth $2,502,103. Company insiders own 0.71% of the company’s stock.

Institutional Trading of Associated Banc

A number of hedge funds have recently added to or reduced their stakes in ASB. Sei Investments Co. increased its holdings in shares of Associated Banc by 134.1% during the 1st quarter. Sei Investments Co. now owns 433,405 shares of the bank’s stock worth $11,208,000 after buying an additional 248,265 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Associated Banc by 14.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,453 shares of the bank’s stock valued at $12,322,000 after acquiring an additional 51,068 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Associated Banc in the second quarter valued at $2,892,000. Wedge Capital Management L L P NC purchased a new stake in Associated Banc during the second quarter valued at about $2,048,000. Finally, BlackRock Inc. purchased a new stake in Associated Banc during the second quarter valued at about $715,927,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Company Profile

Associated Banc-Corp (NYSE: ASB) is a bank holding company headquartered in Green Bay, Wisconsin. Its principal subsidiary, Associated Bank, provides banking and financial services to consumers, businesses, institutions and municipalities.

The company offers deposit accounts, residential and commercial real estate lending, business loans, consumer financing, cash-management and treasury services, credit cards, wealth management, investment services and insurance products. Associated also provides specialized financial services for commercial and corporate clients, including relationship banking and capital-market support.

Associated Bank serves customers through branches, offices and digital banking channels across Wisconsin and portions of Illinois and Minnesota.