Associated Banc (NYSE:ASB) PT Raised to $25.00 at Royal Bank of Canada

Associated Banc (NYSE:ASB - Get Free Report) had its target price increased by equities researchers at Royal Bank of Canada from $24.00 to $25.00 in a report issued on Friday, Benzinga reports. The firm currently has a "sector perform" rating on the bank's stock. Royal Bank of Canada's price target points to a potential upside of 9.03% from the company's current price.

ASB has been the topic of a number of other research reports. StockNews.com cut Associated Banc from a "hold" rating to a "sell" rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Friday, July 26th. Robert W. Baird dropped their price target on Associated Banc from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. Piper Sandler upped their price target on Associated Banc from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Finally, Jefferies Financial Group dropped their price target on Associated Banc from $24.00 to $22.00 and set a "hold" rating on the stock in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $23.89.

Associated Banc Stock Performance

ASB stock traded up $0.25 during midday trading on Friday, reaching $22.93. The company had a trading volume of 2,196,911 shares, compared to its average volume of 1,336,446. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. The stock has a 50 day moving average price of $21.76 and a 200 day moving average price of $21.45. Associated Banc has a fifty-two week low of $15.59 and a fifty-two week high of $24.21. The firm has a market capitalization of $3.46 billion, a PE ratio of 23.24, a P/E/G ratio of 1.66 and a beta of 0.93.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. The company had revenue of $607.54 million for the quarter, compared to analysts' expectations of $336.52 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. During the same quarter in the previous year, the company posted $0.53 earnings per share. Analysts anticipate that Associated Banc will post 2.06 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John A. Utz sold 2,000 shares of the company's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares in the company, valued at approximately $2,269,730.86. 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 accessible through this link. In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the transaction, the director now owns 54,114 shares of the company's stock, valued at $1,108,254.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John A. Utz sold 2,000 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total transaction of $45,560.00. Following the transaction, the executive vice president now directly owns 99,637 shares of the company's stock, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,835 shares of company stock worth $757,214. Corporate insiders own 1.45% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ASB. LSV Asset Management raised its position in shares of Associated Banc by 43.3% during the first quarter. LSV Asset Management now owns 4,050,813 shares of the bank's stock valued at $87,133,000 after buying an additional 1,224,216 shares during the last quarter. Millennium Management LLC raised its position in shares of Associated Banc by 291.3% during the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank's stock valued at $33,063,000 after buying an additional 1,163,807 shares during the last quarter. M&G Plc acquired a new position in shares of Associated Banc during the first quarter valued at about $8,057,000. Vanguard Group Inc. raised its position in shares of 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 buying an additional 184,813 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Associated Banc by 12.0% during the second quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank's stock valued at $24,309,000 after buying an additional 123,271 shares during the last quarter. Institutional investors and hedge funds 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.