Associated Banc (NYSE:ASB) Price Target Raised to $28.00 at Piper Sandler

Associated Banc (NYSE:ASB) had its price objective upped by research analysts at Piper Sandler from $26.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price suggests a potential upside of 6.30% from the stock’s previous close.

ASB has been the subject of a number of other research reports. Barclays boosted their price target on shares of Associated Banc from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price target on Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Wells Fargo & Company increased their price objective on Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price objective on Associated Banc from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.56.

Associated Banc Price Performance

Shares of ASB traded up $0.23 during mid-day trading on Thursday, reaching $26.34. 188,485 shares of the stock traded hands, compared to its average volume of 1,434,639. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.87 and a beta of 0.93. Associated Banc has a 1 year low of $18.88 and a 1 year high of $28.18. The firm has a fifty day moving average price of $24.20 and a 200 day moving average price of $22.37. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same period in the prior year, the company earned $0.53 EPS. As a group, equities research analysts predict that Associated Banc will post 2.13 earnings per share for the current year.

Insider Transactions at Associated Banc

In other news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The trade was a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David L. Stein sold 29,536 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,641 shares of company stock worth $1,435,936. Insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

A number of hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of Associated Banc by 3.3% in the 3rd quarter. State Street Corp now owns 8,230,340 shares of the bank’s stock worth $177,282,000 after acquiring an additional 261,877 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Associated Banc by 2.3% during the third quarter. Geode Capital Management LLC now owns 3,584,271 shares of the bank’s stock valued at $77,219,000 after purchasing an additional 79,658 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Associated Banc by 11.2% during the third quarter. Verition Fund Management LLC now owns 3,036,239 shares of the bank’s stock valued at $65,401,000 after purchasing an additional 305,133 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Associated Banc by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,137,125 shares of the bank’s stock valued at $46,034,000 after purchasing an additional 17,425 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Associated Banc by 291.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock worth $33,063,000 after purchasing an additional 1,163,807 shares in 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.