Robert W. Baird Downgrades Associated Banc (NYSE:ASB) is Neutral

Associated Banc (NYSE:ASB – Get Free Report) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. They currently have a $27.00 price objective on the bank’s stock. Robert W. Baird’s target price indicates a potential upside of 15.06% from the stock’s current price.

ASB has been the subject of several other research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a research report on Tuesday, April 9th. Stephens reiterated an “equal weight” rating and issued a $23.00 target price on shares of Associated Banc in a research report on Friday, April 26th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company lifted their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group cut their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Associated Banc has a consensus rating of “Hold” and an average target price of $23.11.

Read Our Latest Stock Analysis on Associated Banc

Associated Banc Price Performance

ASB stock opened at $23.47 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86. Associated Banc has a 1 year low of $15.16 and a 1 year high of $23.49. The company has a market cap of $3.54 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95. The stock has a 50-day simple moving average of $21.07 and a 200-day simple moving average of $20.99.

Associated Banc (NYSE:ASB – Get Free Report) last issued its quarterly earnings date on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The company had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. During the same quarter last year, the company earned $0.66 EPS. Associated Banc’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts predict that Associated Banc will post 2.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Associated Banc

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

Hedge Funds Weigh In On Associated Banc

Hedge funds have recently modified their holdings of the stock. Steph & Co. grew its holdings in shares of Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after buying an additional 964 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after buying an additional 907 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Associated Banc during the fourth quarter valued at $28,000. Parallel Advisors LLC grew its holdings in shares of Associated Banc by 64.0% during the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after buying an additional 894 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Associated Banc by 183.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock valued at $61,000 after buying an additional 1,850 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

About Associated Banc

(Get Free Report)

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, mortgage residentials, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.

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