Associated Banc (NYSE:ASB) Price Target Increased to $25.00 by Analysts at Royal Bank of Canada

Associated Banc (NYSE:ASB) had its target price hoisted by Royal Bank of Canada from $24.00 to $25.00 in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

Several other research analysts have also recently weighed in on the company. Stephens restated an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Barclays boosted their target price on Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday. Robert W. Baird dropped their price target on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Jefferies Financial Group decreased their price objective on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, Piper Sandler raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.89.

Associated Banc Trading Up 1.1 %

Associated Banc stock opened at $22.93 on Friday. Associated Banc has a 12 month low of $15.59 and a 12 month high of $24.21. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The business’s fifty day simple moving average is $21.79 and its two-hundred day simple moving average is $21.46. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $607.54 million for the quarter, compared to analysts’ expectations of $336.52 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts predict that Associated Banc will post 2.06 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 3.84%. Associated Banc’s dividend payout ratio (DPR) is 88.89%.

Insider Buying and Selling at Associated Banc

In other news, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the transaction, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Randall J. Erickson sold 23,774 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the sale, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at $2,958,353.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the transaction, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,835 shares of company stock valued at $757,214. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASB. Vanguard Group Inc. raised its stake in Associated Banc by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after purchasing an additional 184,813 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Associated Banc in the 1st quarter worth about $866,000. State Board of Administration of Florida Retirement System raised its position in shares of Associated Banc by 71.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank’s stock valued at $1,591,000 after buying an additional 30,732 shares in the last quarter. M&G Plc lifted its holdings in shares of Associated Banc by 12.4% in the 2nd quarter. M&G Plc now owns 411,761 shares of the bank’s stock valued at $8,647,000 after acquiring an additional 45,542 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in Associated Banc in the first quarter worth about $609,000. 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.