Robert W. Baird Has Lowered Expectations for Associated Banc (NYSE:ASB) Stock Price

Associated Banc (NYSE:ASB) had its target price cut by investment analysts at Robert W. Baird from $28.00 to $26.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Robert W. Baird’s price objective would suggest a potential upside of 3.65% from the company’s current price.

A number of other research firms have also recently commented on ASB. Keefe, Bruyette & Woods lifted their price target on Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays upped their target price on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $28.00 price objective on shares of Associated Banc in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lifted their target price on Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.67.

Associated Banc Price Performance

Associated Banc stock opened at $25.09 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average of $25.22 and a 200-day moving average of $23.42. 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 P/E ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94.

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

Insiders Place Their Bets

In other news, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the transaction, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ASB. Point72 DIFC Ltd bought a new position in Associated Banc during the 3rd quarter valued at approximately $39,000. Crews Bank & Trust bought a new position in shares of Associated Banc during the fourth quarter valued at approximately $56,000. Sugar Maple Asset Management LLC bought a new position in shares of Associated Banc during the fourth quarter valued at approximately $64,000. R Squared Ltd purchased a new stake in Associated Banc in the fourth quarter worth $67,000. Finally, Farther Finance Advisors LLC boosted its holdings in 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 acquiring an additional 1,438 shares in the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

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.