Associated Banc (NYSE:ASB) Price Target Raised to $32.00 at Truist Financial

Associated Banc (NYSE:ASB) had its price target raised by Truist Financial from $30.00 to $32.00 in a research note released on Friday, MarketBeat Ratings reports. They currently have a hold rating on the bank’s stock.

Other research analysts also recently issued reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Barclays increased their price target on shares of Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wall Street Zen cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company upped their target price on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Associated Banc Trading Up 0.7%

NYSE ASB traded up $0.21 on Friday, hitting $30.60. The company’s stock had a trading volume of 1,197,491 shares, compared to its average volume of 2,323,578. The firm has a market cap of $5.77 billion, a P/E ratio of 10.62, a PEG ratio of 1.12 and a beta of 0.76. Associated Banc has a 52-week low of $23.63 and a 52-week high of $31.50. The company’s 50-day simple moving average is $28.88 and its 200 day simple moving average is $27.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $387.21 million for the quarter, compared to analysts’ expectations of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same period in the previous year, the firm earned $0.59 earnings per share. Research analysts predict that Associated Banc will post 2.91 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, June 1st. Associated Banc’s dividend payout ratio (DPR) is 33.33%.

Insider Buying and Selling at Associated Banc

In related news, EVP John A. Utz sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the sale, the executive vice president owned 118,156 shares of the company’s stock, valued at $3,405,255.92. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matthew R. Braeger sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total transaction of $140,850.00. Following the transaction, the executive vice president directly owned 11,777 shares of the company’s stock, valued at $331,758.09. This represents a 29.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 28,299 shares of company stock worth $801,760. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ASB. Wedge Capital Management L L P NC bought a new position in shares of Associated Banc during the second quarter valued at $2,048,000. Gradient Investments LLC boosted its stake in Associated Banc by 11.5% in the 2nd quarter. Gradient Investments LLC now owns 77,334 shares of the bank’s stock worth $2,380,000 after purchasing an additional 8,003 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Associated Banc during the 2nd quarter valued at about $30,927,000. Prodigy Asset Management LLC purchased a new stake in Associated Banc during the 2nd quarter valued at about $315,000. Finally, GAMMA Investing LLC increased its stake in Associated Banc by 60.9% during the 2nd quarter. GAMMA Investing LLC now owns 13,775 shares of the bank’s stock valued at $424,000 after purchasing an additional 5,215 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

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.