Associated Banc (NYSE:ASB) Price Target Raised to $37.00

Associated Banc (NYSE:ASB) had its price objective hoisted by Barclays from $35.00 to $37.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler upped their target price on shares of Associated Banc from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Wells Fargo & Company lowered their price target on Associated Banc from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Truist Financial boosted their price target on Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research report on Monday, September 21st. Finally, Royal Bank Of Canada increased their price objective on Associated Banc from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, October 23rd. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Associated Banc currently has an average rating of “Moderate Buy” and an average target price of $32.70.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $30.53 on Tuesday. The firm’s fifty day simple moving average is $29.70 and its 200-day simple moving average is $28.75. Associated Banc has a 12 month low of $23.87 and a 12 month high of $32.46. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.92 and a quick ratio of 0.92.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 22nd. The bank reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. Associated Banc had a net margin of 19.87% and a return on equity of 10.75%. The firm had revenue of $468.51 million during the quarter, compared to analysts’ expectations of $463.69 million. During the same quarter in the prior year, the business earned $0.73 EPS. As a group, equities analysts forecast that Associated Banc will post 2.99 earnings per share for the current year.

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, December 1st. This is an increase from Associated Banc’s previous quarterly dividend of $0.24. Associated Banc’s payout ratio is currently 33.22%.

Insiders Place Their Bets

In other news, EVP Gregory Warsek sold 16,300 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total value of $521,763.00. Following the completion of the sale, the executive vice president owned 13,809 shares in the company, valued at approximately $442,026.09. This trade represents a 54.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Randall Erickson sold 43,561 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,797,155.64. This trade represents a 43.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 61,170 shares of company stock worth $1,957,840. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently added to or reduced their stakes in the business. Keybank National Association OH lifted its position in shares of Associated Banc by 5.5% during the 3rd quarter. Keybank National Association OH now owns 9,501 shares of the bank’s stock valued at $272,000 after acquiring an additional 498 shares during the period. State of Michigan Retirement System boosted its stake in shares of Associated Banc by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 39,378 shares of the bank’s stock worth $1,018,000 after acquiring an additional 700 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of Associated Banc by 7.3% during the 2nd quarter. Baird Financial Group Inc. now owns 10,336 shares of the bank’s stock worth $318,000 after acquiring an additional 703 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Associated Banc by 27.7% during the 1st quarter. Parallel Advisors LLC now owns 3,305 shares of the bank’s stock worth $85,000 after acquiring an additional 717 shares in the last quarter. Finally, Lido Advisors LLC grew its holdings in shares of Associated Banc by 9.2% in the 3rd quarter. Lido Advisors LLC now owns 9,490 shares of the bank’s stock worth $272,000 after acquiring an additional 803 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

About Associated Banc

Associated Banc-Corp is a regional bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Associated Bank, it provides banking and financial services to individuals, families, businesses and institutions.

Associated Bank offers commercial and corporate banking, retail banking, mortgage lending, consumer lending, treasury management, investment and wealth management, and institutional services. Its business banking activities include lending, deposit accounts, cash-management solutions and other services designed for small and middle-market companies.

The company primarily serves customers across Wisconsin, Illinois and Minnesota through its branch network and digital banking channels.