Barclays Issues Positive Forecast for Associated Banc (NYSE:ASB) Stock Price

Associated Banc (NYSE:ASB - Get Free Report) had its target price raised by equities research analysts at Barclays from $25.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the bank's stock. Barclays's price target would indicate a potential upside of 9.12% from the company's current price.

ASB has been the subject of several other research reports. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $27.00 to $26.00 in a report on Wednesday, April 9th. Raymond James Financial restated an "outperform" rating and set a $27.00 price target on shares of Associated Banc in a report on Monday, April 28th. Truist Financial initiated coverage on shares of Associated Banc in a report on Tuesday, May 13th. They set a "hold" rating and a $26.00 price target for the company. Stephens lowered their price target on shares of Associated Banc from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Associated Banc from $29.00 to $27.00 and set a "market perform" rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $27.22.

Associated Banc Trading Down 0.9%

NYSE:ASB traded down $0.23 during mid-day trading on Tuesday, hitting $25.66. 896,629 shares of the company's stock were exchanged, compared to its average volume of 1,558,127. The company has a 50 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 fifty-two week low of $18.32 and a fifty-two week high of $28.18. The firm has a market capitalization of $4.25 billion, a P/E ratio of 29.88, 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 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Associated Banc had a net margin of 6.02% and a return on equity of 8.47%. The business had revenue of $348.97 million for the quarter, compared to the consensus estimate of $347.86 million. During the same period last year, the company earned $0.52 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. As a group, research analysts expect that Associated Banc will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In other Associated Banc news, CEO Andrew J. Harmening purchased 12,910 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired at an average price of $23.25 per share, for a total transaction of $300,157.50. Following the purchase, the chief executive officer owned 319,269 shares of the company's stock, valued at $7,423,004.25. This trade represents a 4.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.45% of the company's stock.

Institutional Trading of Associated Banc

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP increased its stake in Associated Banc by 154.3% during the 4th quarter. Quarry LP now owns 1,073 shares of the bank's stock valued at $26,000 after purchasing an additional 651 shares in the last quarter. Covestor Ltd boosted its holdings in Associated Banc by 221.0% during the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank's stock worth $36,000 after acquiring an additional 1,032 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Associated Banc by 385.5% during the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock worth $36,000 after acquiring an additional 1,280 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after acquiring an additional 579 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Associated Banc by 13.1% in the 4th quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank's stock worth $84,000 after buying an additional 408 shares during 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.