Associated Banc (NYSE:ASB) Price Target Raised to $30.00 at Wells Fargo & Company

Associated Banc (NYSE:ASB - Get Free Report) had its price objective raised by investment analysts at Wells Fargo & Company from $28.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the bank's stock. Wells Fargo & Company's price objective suggests a potential upside of 17.37% from the stock's previous close.

Several other research analysts have also recently commented on ASB. Stephens cut their price target on Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Raymond James Financial reiterated an "outperform" rating and issued a $27.00 price target on shares of Associated Banc in a research note on Monday, April 28th. Barclays boosted their price target on Associated Banc from $25.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Keefe, Bruyette & Woods cut their price target on Associated Banc from $29.00 to $27.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th. Finally, Truist Financial initiated coverage on Associated Banc in a research note on Tuesday, May 13th. They issued a "hold" rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.22.

Associated Banc Trading Down 1.3%

Shares of NYSE:ASB traded down $0.33 during midday trading on Thursday, reaching $25.56. The company's stock had a trading volume of 1,593,151 shares, compared to its average volume of 1,563,483. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.58. Associated Banc has a 1 year low of $18.32 and a 1 year high of $28.18. The business has a 50 day moving average price of $23.88 and a 200 day moving average price of $23.39.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Associated Banc had a return on equity of 8.47% and a net margin of 6.02%. The company had revenue of $348.97 million for the quarter, compared to analysts' expectations of $347.86 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The firm's quarterly revenue was up 6.8% on a year-over-year basis. Research analysts forecast that Associated Banc will post 2.43 EPS for the current year.

Insider Transactions at Associated Banc

In other Associated Banc news, CEO Andrew J. Harmening acquired 12,910 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $23.25 per share, with a total value of $300,157.50. Following the acquisition, the chief executive officer directly owned 319,269 shares of the company's stock, valued at $7,423,004.25. This represents a 4.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Associated Banc

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Associated Banc by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,248,435 shares of the bank's stock valued at $53,738,000 after purchasing an additional 111,310 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Associated Banc in the 4th quarter worth approximately $353,000. AlphaQuest LLC bought a new stake in shares of Associated Banc in the 4th quarter worth approximately $203,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Associated Banc by 14.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,296 shares of the bank's stock worth $891,000 after purchasing an additional 4,799 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its stake in shares of Associated Banc by 5.4% during the 4th quarter. Securian Asset Management Inc. now owns 12,165 shares of the bank's stock worth $291,000 after acquiring an additional 619 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

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.