Associated Banc (NYSE:ASB) Price Target Lowered to $25.00 at Barclays

Associated Banc (NYSE:ASB - Free Report) had its target price decreased by Barclays from $28.00 to $25.00 in a report released on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the bank's stock.

ASB has been the topic of several other research reports. Wells Fargo & Company boosted their target price on Associated Banc from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. Royal Bank of Canada increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. Stephens reissued an "equal weight" rating and set a $28.00 target price on shares of Associated Banc in a research note on Tuesday, March 25th. Finally, Raymond James reduced their price target on shares of Associated Banc from $30.00 to $28.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. 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 company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $26.67.

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Associated Banc Price Performance

NYSE:ASB traded down $0.08 on Tuesday, reaching $19.21. 1,494,740 shares of the company's stock traded hands, compared to its average volume of 1,491,116. The firm has a market cap of $3.18 billion, a PE ratio of 24.32, a P/E/G ratio of 1.52 and a beta of 0.78. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The stock has a 50-day simple moving average of $22.87 and a 200-day simple moving average of $23.90. Associated Banc has a 12 month low of $18.32 and a 12 month high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly 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 net margin of 5.15% and a return on equity of 8.24%. Equities research analysts forecast that Associated Banc will post 2.43 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.23 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.92 annualized dividend and a yield of 4.79%. Associated Banc's dividend payout ratio is presently 116.46%.

Insiders Place Their Bets

In related news, Director Eileen A. Kamerick sold 7,000 shares of Associated Banc stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the transaction, the director now owns 49,495 shares in the company, valued at $1,223,021.45. The trade was a 12.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Williams sold 2,830 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the sale, the director now directly owns 66,915 shares in the company, valued at approximately $1,678,897.35. The trade was a 4.06 % 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.

Hedge Funds Weigh In On Associated Banc

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP grew its position in shares of Associated Banc by 154.3% in the fourth quarter. Quarry LP now owns 1,073 shares of the bank's stock valued at $26,000 after purchasing an additional 651 shares during the period. Covestor Ltd lifted its stake in Associated Banc by 221.0% in the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank's stock valued at $36,000 after buying an additional 1,032 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock worth $36,000 after buying an additional 1,280 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Associated Banc during the 3rd quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Associated Banc by 49.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock valued at $42,000 after acquiring an additional 579 shares during 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.