Associated Banc (NYSE:ASB) Price Target Lowered to $25.00 at Robert W. Baird

Associated Banc (NYSE:ASB) had its target price decreased by Robert W. Baird from $27.00 to $25.00 in a research note issued to investors on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the bank’s stock.

Several other brokerages have also commented on ASB. Barclays dropped their price objective on Associated Banc from $24.00 to $22.00 and set an equal weight rating on the stock in a report on Monday, June 24th. StockNews.com upgraded Associated Banc from a sell rating to a hold rating in a research report on Tuesday, July 2nd. Stephens restated an equal weight rating and issued a $23.00 target price on shares of Associated Banc in a research report on Friday, April 26th. Royal Bank of Canada raised their target price on Associated Banc from $23.00 to $25.00 and gave the company a sector perform rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on Associated Banc from $20.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $23.56.

Associated Banc Stock Up 0.1 %

Associated Banc stock opened at $23.96 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Associated Banc has a 52 week low of $15.16 and a 52 week high of $24.21. The business’s 50-day moving average price is $21.21 and its 200 day moving average price is $21.10. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.28 and a beta of 0.95.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Associated Banc had a return on equity of 8.18% and a net margin of 7.93%. The company had revenue of $321.75 million for the quarter, compared to analyst estimates of $330.69 million. During the same period last year, the company earned $0.56 earnings per share. Associated Banc’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Associated Banc will post 2.12 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Monday, June 3rd. Associated Banc’s dividend payout ratio (DPR) is currently 88.89%.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 2,500 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $22.18, for a total transaction of $55,450.00. Following the transaction, the executive vice president now owns 100,922 shares of the company’s stock, valued at $2,238,449.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nicole M. Kitowski sold 5,019 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total value of $106,553.37. Following the transaction, the executive vice president now owns 37,993 shares of the company’s stock, valued at approximately $806,591.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John A. Utz sold 2,500 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $22.18, for a total value of $55,450.00. Following the completion of the transaction, the executive vice president now directly owns 100,922 shares in the company, valued at approximately $2,238,449.96. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Associated Banc

Several large investors have recently modified their holdings of ASB. Norges Bank acquired a new position in shares of Associated Banc in the 4th quarter valued at $36,722,000. LSV Asset Management raised its holdings in shares of Associated Banc by 43.3% in the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after buying an additional 1,224,216 shares during the period. Verition Fund Management LLC raised its holdings in shares of Associated Banc by 50.2% in the 4th quarter. Verition Fund Management LLC now owns 2,181,042 shares of the bank’s stock valued at $46,652,000 after buying an additional 728,555 shares during the period. M&G Plc purchased a new stake in shares of Associated Banc in the 1st quarter valued at $8,057,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Associated Banc by 66.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 621,784 shares of the bank’s stock valued at $13,300,000 after buying an additional 247,507 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

About Associated Banc

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.