Associated Banc (NYSE:ASB) Price Target Raised to $34.00

by · The Markets Daily

Associated Banc (NYSE:ASB – Free Report) had its price objective increased by Royal Bank Of Canada from $33.00 to $34.00 in a report issued on Friday morning,Benzinga reports. They currently have a sector perform rating on the bank’s stock.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a report on Monday, September 21st. Truist Financial upped their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Wells Fargo & Company lowered their target price on Associated Banc from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, September 29th. Raymond James Financial increased their target price on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Finally, Barclays raised their target price on shares of Associated Banc from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, October 5th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.50.

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Associated Banc Trading Up 0.1%

Shares of Associated Banc stock opened at $30.24 on Friday. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.03 and a beta of 0.80. The business has a 50-day moving average price of $29.79 and a 200-day moving average price of $29.47. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.86. Associated Banc has a twelve month low of $23.87 and a twelve month high of $32.46.

Associated Banc (NYSE:ASB – Get Free Report) last issued its earnings results on Thursday, October 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.05. The firm had revenue of $468.51 million for the quarter, compared to analysts’ expectations of $463.69 million. Associated Banc had a return on equity of 10.75% and a net margin of 19.87%. During the same period in the previous year, the firm posted $0.73 earnings per share. Equities research analysts anticipate that Associated Banc will post 2.95 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 1st. Associated Banc’s payout ratio is presently 33.22%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Patrick Ahern sold 1,309 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total transaction of $40,382.65. Following the sale, the executive vice president directly owned 43,743 shares in the company, valued at $1,349,471.55. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gregory Warsek sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total value of $521,763.00. Following the completion of the sale, the executive vice president directly owned 13,809 shares of the company’s stock, valued at $442,026.09. The trade was a 54.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 78,833 shares of company stock valued at $2,502,103. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of Associated Banc

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IAG Wealth Partners LLC boosted its stake in Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after buying an additional 1,190 shares during the period. Root Financial Partners LLC bought a new position in Associated Banc during the third quarter valued at $55,000. Global Retirement Partners LLC purchased a new stake in shares of Associated Banc in the second quarter valued at $68,000. Western Wealth Management LLC purchased a new stake in shares of Associated Banc in the first quarter valued at $59,000. Finally, Nykredit A S purchased a new stake in shares of Associated Banc in the second quarter valued at $73,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

More Associated Banc News

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

  • Positive Sentiment: Strong Q3 operating results: Associated Banc reported third-quarter net income of $146.6 million, an 18% year-over-year increase. GAAP EPS was $0.76, while EPS excluding nonrecurring items was $0.81, exceeding the $0.76 analyst consensus cited by the company. Revenue of approximately $464 million also topped expectations. Associated Banc Q3 earnings release
  • Positive Sentiment: Growth in deposits, loans and net interest income: Total deposits rose 16% year over year to $40.4 billion, while period-end loans increased 18% to $36.5 billion. Net interest income climbed 24% to $377.3 million, and the net interest margin expanded 16 basis points to 3.20%, supporting profitability. Associated Banc Q3 financial results
  • Positive Sentiment: Capital return and core customer momentum: The bank repurchased $100 million of common stock during the quarter, while core customer deposits increased by $700 million. Buybacks can support EPS and signal management confidence in the company’s valuation. Associated Banc long-term investor takeaways
  • Positive Sentiment: Higher RBC price target: Royal Bank of Canada raised its target for ASB from $33 to $34 while maintaining a “sector perform” rating. The increase suggests improved valuation support, although the unchanged rating indicates limited expectations for outperformance relative to peers.
  • Neutral Sentiment: Credit quality and expenses remain important watch items: Associated Banc separately disclosed third-quarter net charge-offs, while noninterest expense included $13 million of acquisition-related nonrecurring costs. Investors will assess whether credit costs and integration expenses remain controlled in coming quarters. Associated Banc net charge-offs announcement

About Associated Banc

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Associated Banc-Corp is a regional bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Associated Bank, it provides banking and financial services to individuals, families, businesses and institutions.

Associated Bank offers commercial and corporate banking, retail banking, mortgage lending, consumer lending, treasury management, investment and wealth management, and institutional services. Its business banking activities include lending, deposit accounts, cash-management solutions and other services designed for small and middle-market companies.

The company primarily serves customers across Wisconsin, Illinois and Minnesota through its branch network and digital banking channels.

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