Associated Banc (NYSE:ASB) Given New $27.00 Price Target at Royal Bank of Canada

Associated Banc (NYSE:ASB) had its price target lifted by stock analysts at Royal Bank of Canada from $26.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s target price indicates a potential upside of 7.96% from the company’s previous close.

A number of other equities analysts have also recently commented on ASB. Keefe, Bruyette & Woods boosted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday. Barclays boosted their price target on Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Piper Sandler boosted their price target on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Stephens reissued an “equal weight” rating and set a $28.00 price target on shares of Associated Banc in a report on Friday. Finally, Robert W. Baird lowered their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Friday. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.67.

Associated Banc Price Performance

Shares of NYSE:ASB traded down $0.32 during trading on Friday, reaching $25.01. 1,068,048 shares of the company traded hands, compared to its average volume of 1,616,186. The company’s 50 day moving average is $25.25 and its two-hundred day moving average is $23.37. The firm has a market capitalization of $3.78 billion, a PE ratio of 20.85, a PEG ratio of 2.07 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc has a 52 week low of $19.40 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that Associated Banc will post 2.15 earnings per share for the current year.

Insider Activity at Associated Banc

In other Associated Banc news, 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 transaction, the executive vice president now owns 100,204 shares in the company, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David L. Stein sold 29,536 shares of the stock in a transaction on Wednesday, November 6th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Associated Banc

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

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.