Associated Banc (NYSE:ASB) Price Target Cut to $26.00 by Analysts at Robert W. Baird

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

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

Associated Banc Price Performance

ASB opened at $25.09 on Friday. The company has a fifty day moving average price of $25.22 and a two-hundred day moving average price of $23.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. Associated Banc has a 52 week low of $19.40 and a 52 week high of $28.18. The firm has a market capitalization of $3.79 billion, a PE ratio of 20.90, a P/E/G ratio of 2.07 and a beta of 0.94.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. As a group, analysts anticipate that Associated Banc will post 2.15 earnings per share for the current year.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders 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 annualized dividend and a yield of 3.67%. Associated Banc’s payout ratio is 76.67%.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the sale, the executive vice president now directly owns 100,204 shares of the company’s stock, valued at $2,423,934.76. The trade was a 15.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David L. Stein sold 29,536 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction 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. This trade represents a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new stake in shares of Associated Banc in the 3rd quarter valued at about $39,000. Crews Bank & Trust bought a new stake in shares of Associated Banc in the 4th quarter valued at about $56,000. Sugar Maple Asset Management LLC bought a new stake in shares of Associated Banc in the 4th quarter valued at about $64,000. R Squared Ltd bought a new stake in shares of Associated Banc in the 4th quarter valued at about $67,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,438 shares during the period. 82.98% of the stock is owned by institutional investors.

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.