Associated Banc (NYSE:ASB) Given New $30.00 Price Target at Keefe, Bruyette & Woods

Associated Banc (NYSE:ASB - Free Report) had its price target hoisted by Keefe, Bruyette & Woods from $29.00 to $30.00 in a research note published on Friday,Benzinga reports. They currently have a market perform rating on the bank's stock.

A number of other research analysts also recently commented on the company. StockNews.com raised Associated Banc from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Robert W. Baird decreased their price target on shares of Associated Banc from $28.00 to $26.00 and set a "neutral" rating for the company in a report on Friday. Wells Fargo & Company raised their target price on shares of Associated Banc from $24.00 to $26.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $28.00 price target on shares of Associated Banc in a report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Associated Banc currently has a consensus rating of "Hold" and an average target price of $26.67.

Associated Banc Stock Down 1.0 %

Shares of Associated Banc stock traded down $0.25 on Friday, hitting $25.09. 1,557,208 shares of the company's stock traded hands, compared to its average volume of 1,641,529. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average is $25.25 and its 200 day moving average is $23.37. The stock has a market cap of $3.79 billion, a P/E ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94. Associated Banc has a 52-week low of $19.40 and a 52-week high of $28.18.

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

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.23 per share. This is a boost from Associated Banc's previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Monday, December 2nd. Associated Banc's payout ratio is currently 76.67%.

Insider Activity at Associated Banc

In other Associated Banc 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 owns 81,021 shares of the company's stock, valued at $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John A. Utz sold 19,044 shares of the business's 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 sale, the executive vice president now owns 100,204 shares of the company's stock, valued at approximately $2,423,934.76. This trade represents a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company's stock.

Institutional Investors Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently made changes to their positions in ASB. Point72 DIFC Ltd bought a new position in Associated Banc during the third quarter valued at about $39,000. Crews Bank & Trust bought a new stake in shares of Associated Banc during the fourth quarter valued at approximately $56,000. Sugar Maple Asset Management LLC acquired a new position in shares of Associated Banc in the fourth quarter valued at $64,000. R Squared Ltd acquired a new stake in Associated Banc during the fourth quarter worth $67,000. Finally, Farther Finance Advisors LLC raised its stake in shares of 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 in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

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.