Associated Banc (NYSE:ASB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Associated Banc (NYSE:ASB) had its target price lifted by analysts at Wells Fargo & Company from $26.00 to $27.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 7.63% from the company’s current price.

Several other equities research analysts have also recently weighed in on ASB. Piper Sandler upped their target price on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird lowered their target price on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Friday. Keefe, Bruyette & Woods lifted their price target on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday. Finally, Stephens reiterated an “equal weight” rating and issued a $28.00 target price on shares of Associated Banc in a research note on Friday. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.78.

Associated Banc Stock Down 1.0 %

NYSE:ASB opened at $25.09 on Monday. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. Associated Banc has a twelve month low of $19.40 and a twelve month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $25.22 and a 200-day simple moving average of $23.44.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. Analysts anticipate that Associated Banc will post 2.15 EPS for the current year.

Insider Buying and Selling

In related news, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the transaction, the executive vice president now directly owns 100,204 shares of the company’s stock, valued at $2,423,934.76. This represents a 15.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in Associated Banc during the third quarter valued at $39,000. Crews Bank & Trust acquired a new position in shares of Associated Banc in the 4th quarter valued at about $56,000. Sugar Maple Asset Management LLC acquired a new stake in Associated Banc during the fourth quarter worth about $64,000. R Squared Ltd purchased a new position in Associated Banc during the fourth quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC raised its position in Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after acquiring an additional 1,438 shares in the last quarter. 82.98% of the stock is currently owned by hedge funds and other 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.