Associated Banc (NYSE:ASB) Stock Gets Price Target Bump from Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Associated Banc’s price target from $33 to $34 while maintaining a “sector perform” rating, implying approximately 12.7% upside from the stock’s cited price of $30.16.
• Analyst sentiment is generally positive: Associated Banc has a consensus “Moderate Buy” rating, with six Buy and six Hold ratings and an average price target of $32.50. Other firms have set targets as high as $35.
• The bank recently beat quarterly expectations, reporting adjusted earnings of $0.81 per share versus a $0.76 consensus and revenue of $468.5 million; however, insiders sold about $2.5 million of stock over the past 90 days.

Associated Banc (NYSE:ASB - Get Free Report) had its price objective raised by research analysts at Royal Bank Of Canada from $33.00 to $34.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a "sector perform" rating on the bank's stock. Royal Bank Of Canada's price target suggests a potential upside of 12.73% from the stock's current price.

ASB has been the topic of several other reports. Raymond James Financial upped their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Piper Sandler reaffirmed a "neutral" rating and issued a $35.00 target price on shares of Associated Banc in a research report on Friday. Barclays boosted their price target on Associated Banc from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, October 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Associated Banc in a research report on Monday, September 21st. Finally, Wells Fargo & Company decreased their price objective on Associated Banc from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 29th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Associated Banc presently has a consensus rating of "Moderate Buy" and an average price target of $32.50.

Associated Banc Price Performance

ASB stock traded up $0.35 during mid-day trading on Friday, hitting $30.16. 297,676 shares of the stock were exchanged, compared to its average volume of 2,147,059. The business has a fifty day moving average price of $29.83 and a 200 day moving average price of $29.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93. Associated Banc has a 12 month low of $23.87 and a 12 month high of $32.46. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.00 and a beta of 0.80.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. The business had revenue of $468.51 million for the quarter, compared to analysts' expectations of $463.69 million. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. During the same quarter in the previous year, the business posted $0.73 earnings per share. On average, sell-side analysts anticipate that Associated Banc will post 2.95 EPS for the current year.

Insider Buying and Selling at Associated Banc

In other news, EVP Derek Meyer sold 10,000 shares of Associated Banc stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total value of $307,400.00. Following the completion of the sale, the executive vice president directly owned 61,662 shares in the company, valued at $1,895,489.88. The trade was a 13.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregory Warsek sold 16,300 shares of Associated Banc stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $521,763.00. Following the transaction, the executive vice president directly owned 13,809 shares of the company's stock, valued at approximately $442,026.09. This represents a 54.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 78,833 shares of company stock worth $2,502,103 in the last 90 days. Insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On Associated Banc

Several large investors have recently modified their holdings of the stock. State of Michigan Retirement System grew its stake in shares of Associated Banc by 1.8% in the first 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 in the last quarter. Baird Financial Group Inc. lifted its position in Associated Banc by 7.3% during the 2nd quarter. Baird Financial Group Inc. now owns 10,336 shares of the bank's stock worth $318,000 after buying an additional 703 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Associated Banc by 27.7% during the first quarter. Parallel Advisors LLC now owns 3,305 shares of the bank's stock valued at $85,000 after acquiring an additional 717 shares during the period. GAMMA Investing LLC boosted its stake in Associated Banc by 6.3% in the third quarter. GAMMA Investing LLC now owns 14,649 shares of the bank's stock valued at $420,000 after acquiring an additional 874 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in shares of Associated Banc by 11.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 8,605 shares of the bank's stock worth $247,000 after purchasing an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company's stock.

Key Headlines Impacting Associated Banc

Here are the key news stories impacting Associated Banc this week:

• Positive Sentiment: Third-quarter net income rose 18% year over year to $146.6 million. GAAP diluted EPS was $0.76, while EPS excluding nonrecurring items was $0.81, exceeding the consensus estimate cited in company coverage; revenue of approximately $464 million also topped expectations. Associated Banc-Corp Third Quarter Earnings
• Positive Sentiment: Core customer deposits increased by $700 million during the quarter, while total deposits grew 16% year over year to $40.4 billion. Loans rose 18% to $36.5 billion, indicating continued balance-sheet expansion and stronger funding momentum. Associated Banc-Corp Key Takeaways
• Positive Sentiment: Net interest income climbed 24% to $377.3 million, and net interest margin expanded 16 basis points to 3.20%. The combination suggests the bank is converting loan and deposit growth into improved earnings power. Associated Banc Third-Quarter Net Income
• Positive Sentiment: Associated Banc repurchased $100 million of common stock in the third quarter, supporting per-share value and signaling management confidence in the company’s valuation and capital position. Associated Banc-Corp Key Takeaways
• Neutral Sentiment: The company separately announced third-quarter net charge-offs. Investors will assess the level and trend of credit losses for evidence that stronger growth is not being accompanied by worsening loan quality. Associated Banc-Corp Net Charge-Offs

Associated Banc Company Profile

Associated Banc-Corp is a regional bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Associated Bank, it provides banking and financial services to individuals, families, businesses and institutions.

Associated Bank offers commercial and corporate banking, retail banking, mortgage lending, consumer lending, treasury management, investment and wealth management, and institutional services. Its business banking activities include lending, deposit accounts, cash-management solutions and other services designed for small and middle-market companies.

The company primarily serves customers across Wisconsin, Illinois and Minnesota through its branch network and digital banking channels.

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