Associated Banc (NYSE:ASB) Price Target Raised to $36.00

Associated Banc (NYSE:ASB) had its target price lifted by Wells Fargo & Company from $32.00 to $36.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other equities analysts have also recently issued reports about the stock. Truist Financial boosted their price objective on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Piper Sandler increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Robert W. Baird lifted their price objective on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods upped their price target on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.60.

Associated Banc Trading Up 0.7%

Shares of ASB stock opened at $32.11 on Monday. The business’s 50 day moving average is $30.37 and its two-hundred day moving average is $28.25. Associated Banc has a twelve month low of $23.86 and a twelve month high of $32.21. The company has a market capitalization of $6.06 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 1.08 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $438.01 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Equities analysts forecast that Associated Banc will post 2.91 EPS for the current year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 1st. Associated Banc’s dividend payout ratio (DPR) is 33.57%.

Insider Buying and Selling at Associated Banc

In related news, EVP Nicole M. Kitowski sold 7,663 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total value of $236,863.33. Following the transaction, the executive vice president directly owned 45,327 shares of the company’s stock, valued at approximately $1,401,057.57. This trade represents a 14.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John A. Utz sold 5,000 shares of Associated Banc stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the transaction, the executive vice president owned 118,156 shares in the company, valued at $3,405,255.92. The trade was a 4.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,962 shares of company stock worth $1,233,303. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Associated Banc

A number of institutional investors and hedge funds have recently bought and sold shares of ASB. California State Teachers Retirement System raised its position in Associated Banc by 0.3% in the second 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 last quarter. LPL Financial LLC grew its holdings in shares of Associated Banc by 2.3% during the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock worth $491,000 after purchasing an additional 426 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Associated Banc by 2.0% in the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after buying an additional 549 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Associated Banc by 1.8% in the fourth quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock valued at $896,000 after buying an additional 619 shares during the period. Finally, State of Michigan Retirement System raised its holdings in Associated Banc by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 39,378 shares of the bank’s stock valued at $1,018,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors 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.