Associated Banc-Corp (NYSE:ASB) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.14.
Several brokerages have issued reports on ASB. DA Davidson began coverage on shares of Associated Banc-Corp in a research report on Monday. They set an “underperform” rating and a $18.00 price objective for the company. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Barclays PLC raised their price objective on shares of 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. Finally, Jefferies Group reiterated a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st.
Associated Banc-Corp (NYSE:ASB) opened at 19.47 on Thursday. The firm’s 50-day moving average price is $19.57 and its 200 day moving average price is $18.34. The firm has a market cap of $2.89 billion, a P/E ratio of 16.78 and a beta of 1.32. Associated Banc-Corp has a 12-month low of $15.45 and a 12-month high of $20.90.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Associated Banc-Corp had a net margin of 16.73% and a return on equity of 6.44%. Analysts forecast that Associated Banc-Corp will post $1.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.11 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 2.26%. Associated Banc-Corp’s dividend payout ratio (DPR) is 37.93%.
In related news, CEO Philip B. Flynn sold 10,000 shares of Associated Banc-Corp stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $18.61, for a total value of $186,100.00. Following the transaction, the chief executive officer now directly owns 129,735 shares of the company’s stock, valued at $2,414,368.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Williams acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was purchased at an average cost of $19.85 per share, for a total transaction of $39,700.00. The disclosure for this purchase can be found here. 2.09% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ASB. Chicago Partners Investment Group LLC boosted its position in shares of 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 period. Envestnet Asset Management Inc. boosted its position in shares of Associated Banc-Corp by 38.8% in the first quarter. Envestnet Asset Management Inc. now owns 9,463 shares of the company’s stock worth $170,000 after buying an additional 2,643 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Associated Banc-Corp by 0.3% in the first quarter. Rehmann Capital Advisory Group now owns 10,026 shares of the company’s stock worth $180,000 after buying an additional 26 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in shares of Associated Banc-Corp during the first quarter worth about $183,000. Finally, LS Investment Advisors LLC boosted its position in shares of 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 period. 74.28% of the stock is currently owned by institutional investors and hedge funds.
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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