Associated Banc-Corp (NYSE:ASB) – Equities research analysts at DA Davidson issued their FY2016 earnings estimates for Associated Banc-Corp in a report issued on Monday. DA Davidson analyst K. Reevey expects that the firm will post earnings per share of $1.24 for the year. DA Davidson currently has a “Underperform” rating and a $18.00 target price on the stock.
Several other equities research analysts have also commented on ASB. Zacks Investment Research raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Jefferies Group reaffirmed a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Finally, Barclays PLC upped their price target on shares of Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.38.
Associated Banc-Corp (NYSE:ASB) traded up 0.82% on Thursday, hitting $19.75. 329,626 shares of the company’s stock traded hands. Associated Banc-Corp has a 12 month low of $15.45 and a 12 month high of $20.90. The stock has a 50 day moving average price of $19.57 and a 200-day moving average price of $18.35. The stock has a market cap of $2.93 billion, a P/E ratio of 17.03 and a beta of 1.32.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. Associated Banc-Corp had a net margin of 16.73% and a return on equity of 6.44%.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.25%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 37.93%.
In related news, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $18.61, for a total transaction of $186,100.00. Following the completion of the transaction, the chief executive officer now directly owns 129,735 shares in the company, valued at approximately $2,414,368.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Moral-Niles Christopher Del sold 8,052 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $18.55, for a total value of $149,364.60. Following the transaction, the chief financial officer now owns 79,644 shares of the company’s stock, valued at $1,477,396.20. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Associated Banc-Corp during the fourth quarter worth about $38,369,000. Dimensional Fund Advisors LP increased its position in shares of Associated Banc-Corp by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 10,532,443 shares of the company’s stock worth $180,628,000 after buying an additional 1,255,448 shares during the period. Alliancebernstein L.P. increased its position in shares of Associated Banc-Corp by 24.7% in the second quarter. Alliancebernstein L.P. now owns 4,142,500 shares of the company’s stock worth $71,044,000 after buying an additional 820,598 shares during the period. Foundry Partners LLC bought a new position in shares of Associated Banc-Corp during the second quarter worth about $10,573,000. Finally, Columbia Wanger Asset Management LLC increased its position in shares of Associated Banc-Corp by 14.9% in the second quarter. Columbia Wanger Asset Management LLC now owns 3,125,636 shares of the company’s stock worth $53,605,000 after buying an additional 406,038 shares during the period. Institutional investors own 74.28% of the company’s stock.
About Associated Banc-Corp
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and nonbanking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
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