Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Associated Banc Corp from a buy rating to a hold rating in a research report on Wednesday, November 23rd. JMP Securities started coverage on shares of Associated Banc Corp in a research report on Thursday, February 2nd. They set a market perform rating for the company. SunTrust Banks, Inc. started coverage on shares of Associated Banc Corp in a research report on Tuesday, December 20th. They set a hold rating and a $26.00 target price for the company. Barclays PLC lifted their target price on shares of Associated Banc Corp to $26.00 and gave the company an equal weight rating in a research report on Friday, January 20th. Finally, Jefferies Group LLC lowered shares of Associated Banc Corp from a buy rating to a hold rating and set a $24.00 target price for the company. in a research report on Monday, November 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $23.55.
Shares of Associated Banc Corp (NYSE:ASB) opened at 23.40 on Thursday. The firm has a market capitalization of $3.55 billion, a PE ratio of 18.57 and a beta of 1.18. Associated Banc Corp has a 52-week low of $15.72 and a 52-week high of $26.70. The stock’s 50 day moving average is $25.29 and its 200 day moving average is $23.03.
Associated Banc Corp (NYSE:ASB) last announced its earnings results on Thursday, January 19th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Associated Banc Corp had a net margin of 17.31% and a return on equity of 6.81%. During the same quarter last year, the firm earned $0.27 earnings per share. On average, equities research analysts forecast that Associated Banc Corp will post $1.41 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a $0.12 dividend. The ex-dividend date was Monday, February 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.05%. Associated Banc Corp’s payout ratio is 38.10%.
In other news, insider David L. Stein sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $25.04, for a total value of $200,320.00. Following the completion of the sale, the insider now directly owns 37,063 shares in the company, valued at approximately $928,057.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Philip B. Flynn sold 208,214 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $26.05, for a total transaction of $5,423,974.70. Following the completion of the sale, the chief executive officer now owns 395,591 shares of the company’s stock, valued at $10,305,145.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 398,684 shares of company stock valued at $10,282,726. Company insiders own 2.09% of the company’s stock.
Several large investors have recently made changes to their positions in ASB. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Associated Banc Corp during the fourth quarter worth $556,000. JPMorgan Chase & Co. raised its stake in shares of Associated Banc Corp by 3.9% in the third quarter. JPMorgan Chase & Co. now owns 4,262,112 shares of the company’s stock worth $83,495,000 after buying an additional 160,953 shares during the last quarter. Norges Bank acquired a new stake in shares of Associated Banc Corp during the fourth quarter worth $50,013,000. BlackRock Fund Advisors raised its stake in shares of Associated Banc Corp by 3.5% in the third quarter. BlackRock Fund Advisors now owns 5,566,760 shares of the company’s stock worth $109,053,000 after buying an additional 190,423 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Associated Banc Corp by 12.4% in the fourth quarter. State Street Corp now owns 6,143,400 shares of the company’s stock worth $151,739,000 after buying an additional 679,733 shares during the last quarter. Hedge funds and other institutional investors own 75.96% 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 non-banking 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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