Associated Banc (NYSE:ASB) Price Target Raised to $30.00

Associated Banc (NYSE:ASB - Get Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $28.00 to $30.00 in a research 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 16.70% from the stock's previous close.

Other research analysts also recently issued reports about the stock. Barclays upped their target price on shares of Associated Banc from $25.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their target price on shares of Associated Banc from $29.00 to $27.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Truist Financial began coverage on Associated Banc in a research note on Tuesday, May 13th. They issued a "hold" rating and a $26.00 price target for the company. 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. Finally, Stephens reduced their target price on Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $27.22.

Associated Banc Stock Down 0.7%

NYSE:ASB traded down $0.18 during mid-day trading on Thursday, hitting $25.71. The company had a trading volume of 822,380 shares, compared to its average volume of 1,518,307. The business has a fifty day simple moving average of $23.84 and a 200-day simple moving average of $23.39. The company has a current ratio of 0.87, a quick 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 firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 1.13 and a beta of 0.80.

Associated Banc (NYSE:ASB - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating 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 business had revenue of $348.97 million during the quarter, compared to analyst estimates of $347.86 million. During the same quarter last year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts forecast that Associated Banc will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Associated Banc

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Associated Banc during the 4th quarter valued at about $36,144,000. Vanguard Group Inc. raised its holdings in shares of Associated Banc by 8.7% during the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank's stock valued at $431,798,000 after acquiring an additional 1,444,068 shares during the period. GAMMA Investing LLC boosted its position in shares of Associated Banc by 11.6% in the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank's stock worth $118,000 after buying an additional 547 shares during the period. Proficio Capital Partners LLC acquired a new position in Associated Banc in the 4th quarter worth about $353,000. Finally, FMR LLC lifted its stake in Associated Banc by 9.4% in the fourth quarter. FMR LLC now owns 14,838,422 shares of the bank's stock valued at $354,638,000 after acquiring an additional 1,272,441 shares during the last quarter. Institutional investors and hedge funds 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.