Associated Banc-Corp (NYSE:ASB) – Analysts at Jefferies Group issued their Q1 2017 earnings estimates for shares of Associated Banc-Corp in a research report issued to clients and investors on Tuesday. Jefferies Group analyst E. Harmon forecasts that the brokerage will post earnings of $0.30 per share for the quarter. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Associated Banc-Corp’s Q2 2017 earnings at $0.35 EPS, Q3 2017 earnings at $0.35 EPS and Q4 2017 earnings at $0.36 EPS.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%.
ASB has been the topic of several other reports. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, September 13th. DA Davidson initiated coverage on Associated Banc-Corp in a research report on Monday, October 3rd. They set an “underperform” rating and a $18.00 price target on the stock. Deutsche Bank AG increased their price target on Associated Banc-Corp from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Barclays PLC increased their price target on Associated Banc-Corp from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $19.63.
Associated Banc-Corp (NYSE:ASB) traded up 1.05% during midday trading on Thursday, reaching $19.25. The company’s stock had a trading volume of 527,823 shares. Associated Banc-Corp has a 12-month low of $15.45 and a 12-month high of $20.90. The company’s 50-day moving average is $19.54 and its 200 day moving average is $18.42. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 16.59 and a beta of 1.32.
A number of hedge funds and other institutional investors have recently modified their holdings of ASB. Chicago Partners Investment Group LLC increased its stake in Associated Banc-Corp by 0.7% in the second quarter. Chicago Partners Investment Group LLC now owns 6,304 shares of the company’s stock worth $108,000 after buying an additional 41 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Associated Banc-Corp during the first quarter worth approximately $183,000. LS Investment Advisors LLC increased its stake in Associated Banc-Corp by 49.0% in the second quarter. LS Investment Advisors LLC now owns 11,828 shares of the company’s stock worth $203,000 after buying an additional 3,889 shares during the last quarter. Calvert Investment Management Inc. increased its stake in Associated Banc-Corp by 1.5% in the second quarter. Calvert Investment Management Inc. now owns 12,014 shares of the company’s stock worth $206,000 after buying an additional 179 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Associated Banc-Corp during the third quarter worth approximately $212,000. 74.28% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Moral-Niles Christopher Del sold 4,814 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $19.57, for a total value of $94,209.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Yee sold 9,983 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $19.19, for a total transaction of $191,573.77. Following the completion of the transaction, the insider now directly owns 72,368 shares in the company, valued at $1,388,741.92. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Tuesday, August 30th. Associated Banc-Corp’s payout ratio is currently 37.93%.
Associated Banc-Corp Company Profile
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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