Associated Banc (NYSE:ASB) Price Target Increased to $23.00 by Analysts at Barclays

Associated Banc (NYSE:ASB) had its target price increased by investment analysts at Barclays from $22.00 to $23.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Barclays‘s target price would indicate a potential upside of 7.28% from the stock’s current price.

ASB has been the subject of a number of other reports. Royal Bank of Canada increased their target price on shares of Associated Banc from $23.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Stephens reissued an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a research report on Tuesday, July 30th. Baird R W cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price target on Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.78.

Associated Banc Stock Down 0.1 %

ASB stock opened at $21.44 on Friday. The stock has a market cap of $3.23 billion, a P/E ratio of 21.66, a PEG ratio of 2.36 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. Associated Banc has a twelve month low of $15.16 and a twelve month high of $24.21. The company’s 50 day moving average is $21.76 and its two-hundred day moving average is $21.32.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The firm had revenue of $321.75 million during the quarter, compared to the consensus estimate of $330.69 million. During the same period in the prior year, the business earned $0.56 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Research analysts expect that Associated Banc will post 2.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Associated Banc

In related news, EVP Randall J. Erickson sold 23,774 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the transaction, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Randall J. Erickson sold 23,774 shares of Associated Banc stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the sale, the executive vice president now owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the transaction, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,835 shares of company stock valued at $757,214. 1.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Steph & Co. boosted its stake in Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after buying an additional 964 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of 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 acquiring an additional 907 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in Associated Banc in the fourth quarter worth about $28,000. Quest Partners LLC acquired a new position in shares of Associated Banc in the 2nd quarter valued at $38,000. Finally, Parallel Advisors LLC boosted its stake in Associated Banc by 64.0% during the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock worth $49,000 after acquiring an additional 894 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.

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.