Associated Banc-Corp (NYSE:ASB) – Investment analysts at DA Davidson issued their Q3 2016 earnings estimates for shares of Associated Banc-Corp in a research report issued on Monday. DA Davidson analyst K. Reevey anticipates that the brokerage will post earnings of $0.32 per share for the quarter. DA Davidson has a “Underperform” rating and a $18.00 price objective on the stock. DA Davidson also issued estimates for Associated Banc-Corp’s Q4 2016 earnings at $0.34 EPS, Q1 2017 earnings at $0.33 EPS, Q2 2017 earnings at $0.34 EPS, Q3 2017 earnings at $0.35 EPS, Q4 2017 earnings at $0.37 EPS and FY2017 earnings at $1.38 EPS.
Other analysts have also recently issued research reports about the company. Jefferies Group restated a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Zacks Investment Research upgraded Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, September 13th. Finally, Barclays PLC upped 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.38.
Shares of Associated Banc-Corp (NYSE:ASB) traded up 1.65% during mid-day trading on Wednesday, reaching $19.74. The company’s stock had a trading volume of 486,112 shares. The company has a 50-day moving average price of $19.57 and a 200 day moving average price of $18.34. Associated Banc-Corp has a 52-week low of $15.45 and a 52-week high of $20.90. The company has a market cap of $2.93 billion, a PE ratio of 17.02 and a beta of 1.32.
Associated Banc-Corp (NYSE:ASB) last released its earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%.
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Associated Banc-Corp during the fourth quarter valued at $38,369,000. Aperio Group LLC boosted its position in Associated Banc-Corp by 16.5% in the first quarter. Aperio Group LLC now owns 37,898 shares of the company’s stock valued at $680,000 after buying an additional 5,369 shares in the last quarter. Teachers Advisors Inc. boosted its position in Associated Banc-Corp by 5.7% in the first quarter. Teachers Advisors Inc. now owns 285,383 shares of the company’s stock valued at $5,120,000 after buying an additional 15,356 shares in the last quarter. Prudential Financial Inc. boosted its position in Associated Banc-Corp by 14.3% in the first quarter. Prudential Financial Inc. now owns 862,581 shares of the company’s stock valued at $15,475,000 after buying an additional 108,154 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in Associated Banc-Corp by 0.3% in the first quarter. Rehmann Capital Advisory Group now owns 10,026 shares of the company’s stock valued at $180,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.
In other news, Director John B. Williams purchased 2,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was acquired at an average price of $19.85 per share, for a total transaction of $39,700.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s 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 owns 129,735 shares of the company’s stock, valued at approximately $2,414,368.35. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.27%. The ex-dividend date was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio is presently 37.93%.
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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