Associated Banc-Corp (NYSE:ASB) – Equities researchers at DA Davidson issued their FY2016 earnings per share estimates for Associated Banc-Corp in a report released on Monday. DA Davidson analyst K. Reevey anticipates that the firm will earn $1.24 per share for the year. DA Davidson has a “Underperform” rating and a $18.00 price objective on the stock.
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 Zacks’ consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%.
Several other research firms have also commented on ASB. Zacks Investment Research upgraded Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, September 13th. Barclays PLC upped their target price on shares of Associated Banc-Corp from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 16th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Associated Banc-Corp in a report on Monday, August 1st. Two investment 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 has a consensus rating of “Hold” and a consensus target price of $19.38.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.61 on Thursday. Associated Banc-Corp has a 1-year low of $15.45 and a 1-year high of $20.90. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 16.91 and a beta of 1.32. The company’s 50-day moving average price is $19.58 and its 200 day moving average price is $18.37.
The business also recently disclosed 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 dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 37.93%.
In other Associated Banc-Corp news, CFO Moral-Niles Christopher Del sold 8,052 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $18.55, for a total transaction of $149,364.60. Following the completion of the transaction, the chief financial officer now owns 79,644 shares of the company’s stock, valued at approximately $1,477,396.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Judith M. Docter sold 8,000 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $18.66, for a total transaction of $149,280.00. Following the transaction, the insider now directly owns 43,608 shares of the company’s stock, valued at approximately $813,725.28. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new position in Associated Banc-Corp during the first quarter valued at approximately $368,000. Rafferty Asset Management LLC increased its position in shares of Associated Banc-Corp by 45.3% in the first quarter. Rafferty Asset Management LLC now owns 21,138 shares of the company’s stock worth $379,000 after buying an additional 6,588 shares during the last quarter. State Street Corp increased its position in shares of Associated Banc-Corp by 3.0% in the first quarter. State Street Corp now owns 6,356,937 shares of the company’s stock worth $114,052,000 after buying an additional 185,248 shares during the last quarter. Associated Banc Corp increased its position in shares of Associated Banc-Corp by 1.4% in the first quarter. Associated Banc Corp now owns 3,222,052 shares of the company’s stock worth $57,804,000 after buying an additional 44,397 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Associated Banc-Corp by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 3,938,547 shares of the company’s stock worth $70,657,000 after buying an additional 167,106 shares during the last quarter. 74.28% of the stock is 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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