Keefe, Bruyette & Woods Increases Associated Banc (NYSE:ASB) Price Target to $31.00

Associated Banc (NYSE:ASB) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $30.00 to $31.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 12.79% from the stock’s previous close.

A number of other equities research analysts have also weighed in on ASB. Barclays upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $30.00 to $33.00 in a report on Tuesday, April 7th. Piper Sandler increased their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday. Wall Street Zen raised shares of Associated Banc from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $30.00 to $29.00 in a research report on Friday, March 27th. Finally, Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.90.

Associated Banc Stock Down 1.5%

Shares of ASB traded down $0.43 during midday trading on Friday, reaching $27.49. The stock had a trading volume of 1,188,799 shares, compared to its average volume of 2,415,657. Associated Banc has a 1-year low of $21.61 and a 1-year high of $29.51. The company’s fifty day simple moving average is $26.45 and its two-hundred day simple moving average is $26.29. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 1.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The business had revenue of $387.21 million for the quarter, compared to analyst estimates of $384.20 million. During the same period last year, the business earned $0.59 EPS. Equities research analysts expect that Associated Banc will post 2.85 earnings per share for the current year.

Associated Banc declared that its Board of Directors has initiated a stock buyback program on Tuesday, January 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Associated Banc news, Director Eileen A. Kamerick sold 6,600 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the transaction, the director directly owned 49,264 shares of the company’s stock, valued at approximately $1,380,377.28. This trade represents a 11.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick Edward Ahern sold 14,731 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $29.03, for a total transaction of $427,640.93. Following the transaction, the executive vice president directly owned 39,401 shares in the company, valued at $1,143,811.03. The trade was a 27.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,656 shares of company stock valued at $677,789. Insiders own 0.71% of the company’s stock.

Institutional Trading of Associated Banc

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after acquiring an additional 394 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Associated Banc by 46.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after acquiring an additional 408 shares during the period. US Bancorp DE lifted its stake in shares of Associated Banc by 0.5% in the 3rd quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock worth $2,074,000 after acquiring an additional 415 shares during the period. LPL Financial LLC lifted its stake in shares of Associated Banc by 2.3% in the 4th quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock worth $491,000 after acquiring an additional 426 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Associated Banc by 2.0% in the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

Key Associated Banc News

Here are the key news stories impacting Associated Banc this week:

• Positive Sentiment: Q1 results: ASB reported $0.70 EPS vs. $0.69 consensus and revenue of $387.2M (above estimates); provisions declined and loans/deposits grew, supporting core earnings momentum. Associated Banc-Corp Q1 Earnings Beat
• Positive Sentiment: Confirmed results/press release: Company reported net income available to common equity of $117M, or $0.70 per share, underscoring the beat reported in filings. PR Newswire Release
• Positive Sentiment: Analyst action: Robert W. Baird raised its price target from $29 to $30 (still a “neutral” rating), implying modest upside but signaling some confidence in near?term fundamentals. Baird Price Target Raise
• Neutral Sentiment: Earnings call and materials available for details — transcript and slide deck can clarify drivers (margin, credit trends) but offered no dramatic new guidance in headlines. Earnings Call Transcript
• Neutral Sentiment: Market context: coverage pieces and snapshots summarize the quarter; an Investing.com note flags the American National deal as recent M&A context to watch for integration effects. Investing.com on American National Deal
• Negative Sentiment: Rising expenses: the quarter showed higher operating expenses, which mutes the benefit from revenue and provision improvements and pressures margins. Zacks Expense Note
• Negative Sentiment: Modest beat vs. expectations and a neutral analyst stance limit immediate upside — the market appears focused on margin/expense trends rather than the small EPS beat. Zacks Earnings Summary

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.