Robert W. Baird Forecasts Strong Price Appreciation for Associated Banc (NYSE:ASB) Stock

Associated Banc (NYSE:ASB) had its price target raised by Robert W. Baird from $29.00 to $30.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a “neutral” rating on the bank’s stock. Robert W. Baird’s price objective indicates a potential upside of 9.57% from the stock’s previous close.

Several other brokerages also recently commented on ASB. Royal Bank Of Canada boosted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods raised their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 23rd. Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Zacks Research downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Weiss Ratings raised Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, February 17th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.90.

Associated Banc Trading Down 1.9%

Shares of Associated Banc stock opened at $27.38 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. Associated Banc has a 12-month low of $21.61 and a 12-month high of $29.51. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 1.45 and a beta of 0.77. The firm’s 50-day moving average price is $26.44 and its two-hundred day moving average price is $26.30.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $387.21 million during the quarter, compared to the consensus estimate of $384.20 million. Associated Banc had a net margin of 19.88% and a return on equity of 10.53%. During the same quarter in the prior year, the firm posted $0.59 EPS. On average, analysts forecast that Associated Banc will post 2.85 earnings per share for the current fiscal year.

Associated Banc declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 27th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, EVP Patrick Edward Ahern sold 14,731 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $29.03, for a total transaction of $427,640.93. Following the sale, the executive vice president owned 39,401 shares of the company’s stock, valued at $1,143,811.03. This trade represents a 27.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eileen A. Kamerick sold 6,600 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $28.02, for a total value of $184,932.00. Following the sale, the director owned 49,264 shares in the company, valued at $1,380,377.28. This represents a 11.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,656 shares of company stock worth $677,789. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC acquired a new stake in Associated Banc during the 3rd quarter worth approximately $1,769,000. JPMorgan Chase & Co. increased its position in Associated Banc by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 984,537 shares of the bank’s stock valued at $25,312,000 after acquiring an additional 194,307 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Associated Banc during the third quarter valued at $1,289,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Associated Banc by 50.6% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 125,433 shares of the bank’s stock valued at $3,225,000 after acquiring an additional 42,133 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Associated Banc by 679.4% during the third quarter. First Trust Advisors LP now owns 2,223,694 shares of the bank’s stock worth $57,171,000 after purchasing an additional 1,938,393 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc News Roundup

Here are the key news stories impacting Associated Banc this week:

• Positive Sentiment: Q1 results showed an EPS beat and revenue upside; net income was $117M, EPS $0.70 vs. $0.69 consensus, and revenue of $387.2M. The quarter also featured loan growth and lower provisions, which supports core earnings. Earnings Release
• Positive Sentiment: Analysts highlighted healthy loan growth and strategic initiatives on the earnings call, which management positioned as drivers of revenue expansion going forward. Earnings Highlights
• Positive Sentiment: Several brokerages raised price targets after the quarter — Keefe, Bruyette & Woods lifted its target to $31 (market perform) and Robert W. Baird raised its target to $30 (neutral) — signaling incremental analyst confidence and upside vs. current levels. KBW/Baird PT Raises
• Neutral Sentiment: Management released the full earnings presentation and the earnings call transcript (useful for detail on guidance, capital and the American National transaction context). Presentation
• Neutral Sentiment: PR and summaries: Company press release and coverage (MarketBeat/PR Newswire) document the results and provide the slide deck and call recording for deeper review. Press Release
• Negative Sentiment: Zacks and other coverage note that operating expenses rose in the quarter, which weighed on margins; the EPS beat was small, and that may have left investors disappointed relative to expectations, contributing to the intraday decline. Zacks Coverage

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.