Wells Fargo & Company Boosts Associated Banc (NYSE:ASB) Price Target to $27.00

Associated Banc (NYSE:ASB - Free Report) had its target price hoisted by Wells Fargo & Company from $26.00 to $27.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the bank's stock.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upped their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a "market perform" rating in a research report on Friday. Royal Bank of Canada increased their price objective on Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday. StockNews.com raised Associated Banc from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Piper Sandler upped their price target on Associated Banc from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, December 5th. Finally, Barclays raised their price objective on Associated Banc from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $26.78.

Associated Banc Price Performance

Associated Banc stock traded down $0.23 during mid-day trading on Monday, reaching $24.89. The company had a trading volume of 1,026,998 shares, compared to its average volume of 1,671,599. The business has a fifty day simple moving average of $25.22 and a 200 day simple moving average of $23.44. The company has a market cap of $3.77 billion, a P/E ratio of 20.75, a P/E/G ratio of 2.07 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc has a fifty-two week low of $19.40 and a fifty-two week high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. On average, equities research analysts predict that Associated Banc will post 2.15 earnings per share for the current year.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.70%. This is a boost from Associated Banc's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, December 2nd. Associated Banc's dividend payout ratio is presently 76.67%.

Insider Activity

In related news, EVP David L. Stein sold 29,536 shares of the business's 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 completion of the sale, the executive vice president now directly owns 81,021 shares of the company's stock, valued at $2,222,406.03. The trade was a 26.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John A. Utz sold 19,044 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 100,204 shares in the company, valued at approximately $2,423,934.76. The trade was a 15.97 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new stake in Associated Banc in the 3rd quarter valued at $39,000. Crews Bank & Trust bought a new position in shares of Associated Banc during the fourth quarter valued at about $56,000. Sugar Maple Asset Management LLC purchased a new position in Associated Banc during the fourth quarter worth about $64,000. R Squared Ltd bought a new stake in Associated Banc in the 4th quarter worth about $67,000. Finally, Farther Finance Advisors LLC increased its stake in Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock valued at $69,000 after buying an additional 1,438 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

About Associated Banc

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.