Associated Banc-Corp (ASB) Price Target Increased to $22.00 by Analysts at Deutsche Bank AG
Associated Banc-Corp (NYSE:ASB) had its target price hoisted by equities research analysts at Deutsche Bank AG from $20.00 to $22.00 in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s target price indicates a potential upside of 11.11% from the company’s previous close.
ASB has been the subject of a number of other reports. Zacks Investment Research raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Jefferies Group reissued a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. DA Davidson assumed coverage on shares of Associated Banc-Corp in a research report on Monday, October 3rd. They issued an “underperform” rating and a $18.00 price objective for the company. Finally, Barclays PLC upped their price objective on shares of Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Associated Banc-Corp currently has a consensus rating of “Hold” and an average price target of $19.63.
Associated Banc-Corp (NYSE:ASB) traded down 1.77% during trading on Tuesday, hitting $19.45. The company had a trading volume of 313,667 shares. Associated Banc-Corp has a 12 month low of $15.45 and a 12 month high of $20.90. The company has a market cap of $2.89 billion, a PE ratio of 16.77 and a beta of 1.32. The company’s 50 day moving average price is $19.58 and its 200-day moving average price is $18.39.
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Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. Associated Banc-Corp had a net margin of 16.73% and a return on equity of 6.44%. Equities analysts expect that Associated Banc-Corp will post $1.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.11 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.22%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 37.93%.
In related news, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $18.61, for a total transaction of $186,100.00. Following the sale, the chief executive officer now owns 129,735 shares in the company, valued at $2,414,368.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 8,052 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $18.55, for a total transaction of $149,364.60. Following the sale, the chief financial officer now owns 79,644 shares in the company, valued at approximately $1,477,396.20. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Foundry Partners LLC raised its stake in Associated Banc-Corp by 5.0% in the third quarter. Foundry Partners LLC now owns 647,345 shares of the company’s stock valued at $12,681,000 after buying an additional 30,850 shares during the period. North Star Asset Management Inc. raised its stake in shares of Associated Banc-Corp by 0.5% in the third quarter. North Star Asset Management Inc. now owns 69,917 shares of the company’s stock valued at $1,370,000 after buying an additional 353 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Associated Banc-Corp by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 25,919 shares of the company’s stock valued at $445,000 after buying an additional 91 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Associated Banc-Corp during the second quarter valued at approximately $1,174,000. Finally, Calvert Investment Management Inc. raised its stake in shares of Associated Banc-Corp by 1.5% in the second quarter. Calvert Investment Management Inc. now owns 12,014 shares of the company’s stock valued at $206,000 after buying an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.
About Associated Banc-Corp
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and nonbanking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
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