Associated Banc (NYSE:ASB) Price Target Raised to $30.00 at Truist Financial

Associated Banc (NYSE:ASB) had its target price upped by stock analysts at Truist Financial from $29.00 to $30.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective would suggest a potential upside of 13.58% from the stock’s current price.

ASB has been the topic of a number of other reports. Barclays cut their price target on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen upgraded Associated Banc from a “hold” rating to a “buy” rating in a research note on Saturday. Keefe, Bruyette & Woods upped their price target on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday. Raymond James Financial reissued an “outperform” rating and set a $30.00 price objective (up previously from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Associated Banc in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Associated Banc presently has a consensus rating of “Hold” and an average price target of $29.20.

Associated Banc Stock Down 0.1%

Shares of NYSE:ASB traded down $0.03 during trading on Monday, hitting $26.41. The company’s stock had a trading volume of 418,626 shares, compared to its average volume of 2,311,385. Associated Banc has a fifty-two week low of $18.32 and a fifty-two week high of $28.02. The company has a market capitalization of $4.38 billion, a PE ratio of 9.53, a P/E/G ratio of 0.73 and a beta of 0.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50 day moving average price of $26.22 and a two-hundred day moving average price of $25.79.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The company had revenue of $393.52 million for the quarter, compared to analyst estimates of $382.06 million. During the same quarter last year, the company earned $0.72 EPS. As a group, research analysts expect that Associated Banc will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Patrick Edward Ahern sold 30,489 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.70, for a total transaction of $783,567.30. Following the transaction, the executive vice president directly owned 24,055 shares of the company’s stock, valued at $618,213.50. This represents a 55.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total value of $56,385.35. Following the completion of the transaction, the executive vice president directly owned 109,842 shares of the company’s stock, valued at $2,900,927.22. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,951 shares of company stock worth $925,756 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in shares of Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after purchasing an additional 394 shares during the period. Smartleaf Asset Management LLC boosted its position in Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Associated Banc by 0.5% during the 3rd quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock valued at $2,074,000 after buying an additional 415 shares during the last quarter. Tidal Investments LLC raised its position in Associated Banc by 2.0% during the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after acquiring an additional 549 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of Associated Banc by 6.2% in the 2nd quarter. Greenleaf Trust now owns 12,103 shares of the bank’s stock valued at $295,000 after purchasing an additional 704 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.