Associated Banc (NYSE:ASB) Given New $28.00 Price Target at Raymond James

Associated Banc (NYSE:ASB - Get Free Report) had its price target lowered by equities research analysts at Raymond James from $30.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the bank's stock. Raymond James' target price would indicate a potential upside of 32.92% from the stock's current price.

Other research analysts have also issued reports about the company. Wells Fargo & Company increased their price objective on Associated Banc from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Monday, January 27th. Royal Bank of Canada increased their price objective on Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on Associated Banc from $29.00 to $30.00 and gave the company a "market perform" rating in a research note on Friday, January 24th. Stephens restated an "equal weight" rating and issued a $28.00 target price on shares of Associated Banc in a research note on Friday, January 24th. Finally, Barclays raised their target price on Associated Banc from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.11.

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Associated Banc Stock Performance

ASB stock traded down $0.39 during midday trading on Monday, hitting $21.07. The stock had a trading volume of 2,361,405 shares, compared to its average volume of 1,371,444. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 1.52 and a beta of 0.90. Associated Banc has a 52 week low of $19.76 and a 52 week high of $28.18. The stock has a 50-day simple moving average of $24.48 and a 200 day simple moving average of $24.00. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. As a group, equities research analysts anticipate that Associated Banc will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $24.71, for a total transaction of $172,970.00. Following the transaction, the director now owns 49,495 shares in the company, valued at approximately $1,223,021.45. This trade represents a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Williams sold 2,830 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now owns 66,915 shares in the company, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company's stock.

Hedge Funds Weigh In On Associated Banc

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASB. Farther Finance Advisors LLC lifted its holdings in shares of Associated Banc by 82.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock valued at $69,000 after purchasing an additional 1,438 shares in the last quarter. Wolverine Asset Management LLC lifted its holdings in shares of Associated Banc by 317.7% during the 3rd quarter. Wolverine Asset Management LLC now owns 16,099 shares of the bank's stock valued at $347,000 after purchasing an additional 12,245 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Associated Banc by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 38,674 shares of the bank's stock valued at $833,000 after purchasing an additional 785 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Associated Banc by 6.2% during the 3rd quarter. Victory Capital Management Inc. now owns 592,472 shares of the bank's stock valued at $12,762,000 after purchasing an additional 34,824 shares in the last quarter. Finally, RIA Advisory Group LLC bought a new position in shares of Associated Banc during the 3rd quarter valued at about $1,935,000. 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.