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

Associated Banc (NYSE:ASB) had its price target increased by Piper Sandler from $24.00 to $27.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other brokerages also recently weighed in on ASB. Wells Fargo & Company increased their price target on shares of Associated Banc from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Barclays boosted their price target on Associated Banc from $25.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Truist Financial started coverage on Associated Banc in a research report on Tuesday, May 13th. They issued a “hold” rating and a $26.00 price objective on the stock. Robert W. Baird lifted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Friday. Finally, Stephens lowered their price target on shares of Associated Banc from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.44.

Associated Banc Stock Performance

ASB stock opened at $25.58 on Friday. Associated Banc has a one year low of $18.32 and a one year high of $28.18. The firm has a 50-day simple moving average of $24.27 and a two-hundred day simple moving average of $23.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 0.95 and a beta of 0.80.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. Associated Banc had a return on equity of 8.97% and a net margin of 5.79%. The business had revenue of $366.98 million during the quarter, compared to the consensus estimate of $362.78 million. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities analysts forecast that Associated Banc will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, June 2nd. Associated Banc’s dividend payout ratio is presently 106.98%.

Insider Transactions at Associated Banc

In related news, CEO Andrew J. Harmening bought 12,910 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $23.25 per share, with a total value of $300,157.50. Following the completion of the purchase, the chief executive officer directly owned 319,269 shares of the company’s stock, valued at approximately $7,423,004.25. This trade represents a 4.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASB. Goldman Sachs Group Inc. increased its stake in Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after buying an additional 1,598,951 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Associated Banc in the fourth quarter worth approximately $37,662,000. Norges Bank acquired a new stake in shares of Associated Banc in the fourth quarter worth approximately $36,144,000. Vanguard Group Inc. increased its position in shares of Associated Banc by 8.7% during the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank’s stock worth $431,798,000 after purchasing an additional 1,444,068 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Associated Banc by 200.3% in the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank’s stock valued at $42,853,000 after purchasing an additional 1,287,458 shares during the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

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.