Robert W. Baird Cuts Associated Banc (NYSE:ASB) Price Target to $26.00

Associated Banc (NYSE:ASB) had its target price cut by Robert W. Baird from $28.00 to $26.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other research analysts have also recently issued reports on ASB. Keefe, Bruyette & Woods upped their price target on Associated Banc from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $28.00 price target on shares of Associated Banc in a report on Thursday, December 5th. Piper Sandler upped their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company upped their target price on Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Associated Banc has an average rating of “Hold” and an average price target of $26.67.

Associated Banc Stock Performance

ASB stock opened at $25.09 on Friday. Associated Banc has a 1 year low of $19.40 and a 1 year high of $28.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94. The stock’s fifty day moving average is $25.22 and its two-hundred day moving average is $23.44.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. On average, research analysts predict that Associated Banc will post 2.15 EPS for the current year.

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.67%. Associated Banc’s payout ratio is currently 76.67%.

Insider Buying and Selling

In related news, EVP John A. Utz sold 19,044 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the completion of the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at $2,423,934.76. This represents a 15.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now directly owns 81,021 shares in the company, valued at $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new stake in shares of Associated Banc in the 3rd quarter worth about $39,000. Crews Bank & Trust acquired a new stake in shares of Associated Banc during the fourth quarter worth approximately $56,000. Sugar Maple Asset Management LLC bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $64,000. R Squared Ltd bought a new stake in shares of Associated Banc during the fourth quarter worth $67,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after buying an additional 1,438 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Associated Banc Company Profile

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.