Keefe, Bruyette & Woods Has Lowered Expectations for Associated Banc (NYSE:ASB) Stock Price

Associated Banc (NYSE:ASB - Free Report) had its price target reduced by Keefe, Bruyette & Woods from $29.00 to $27.00 in a report issued on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank's stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada upped their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, January 24th. Stephens restated an "equal weight" rating and set a $28.00 price objective on shares of Associated Banc in a research report on Tuesday, March 25th. Raymond James reduced their target price on Associated Banc from $30.00 to $28.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Barclays lowered their price target on shares of Associated Banc from $28.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Robert W. Baird decreased their target price on shares of Associated Banc from $28.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Associated Banc presently has an average rating of "Hold" and a consensus price target of $26.00.

Associated Banc Stock Performance

Associated Banc stock traded down $0.35 on Friday, reaching $22.06. 1,347,178 shares of the stock were exchanged, compared to its average volume of 1,714,881. The stock has a market cap of $3.65 billion, a PE ratio of 27.92, a PEG ratio of 1.52 and a beta of 0.78. The firm has a fifty day moving average price of $21.84 and a two-hundred day moving average price of $23.88. Associated Banc has a twelve month low of $18.32 and a twelve month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. The firm had revenue of $348.97 million for the quarter, compared to analyst estimates of $347.86 million. During the same quarter last year, the firm posted $0.52 EPS. The company's revenue was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that Associated Banc will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.17%. Associated Banc's payout ratio is 106.98%.

Insider Activity at Associated Banc

In other news, Director John B. Williams sold 2,830 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now owns 66,915 shares of the company's stock, valued at $1,678,897.35. This represents a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eileen A. Kamerick sold 7,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the sale, the director now owns 49,495 shares of the company's stock, valued at $1,223,021.45. This represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.

Institutional Trading of Associated Banc

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP raised its holdings in Associated Banc by 154.3% in the fourth quarter. Quarry LP now owns 1,073 shares of the bank's stock worth $26,000 after purchasing an additional 651 shares during the period. Covestor Ltd raised its position in shares of Associated Banc by 221.0% during the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank's stock worth $36,000 after purchasing an additional 1,032 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Associated Banc by 385.5% during the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock valued at $36,000 after purchasing an additional 1,280 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after purchasing an additional 579 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in Associated Banc in the fourth quarter valued at approximately $56,000. 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.