According to Zacks, “Estimates have been stable lately ahead of Associated Banc-Corp’s third-quarter 2016 earnings release. Further, the company has a positive record of earnings surprises in the recent quarters. Moreover, the company is expected to continue witnessing organic growth, driven by solid growth in loans and deposits. Also, improvement in economic conditions should further aid enhancement of the company’s asset quality. In addition, the company’s branch consolidation efforts and inorganic growth strategy will enhance profitability. However, pressure on NIM due to low interest rate environment remains major near term headwind. Furthermore, persistently elevated expenses levels, increased dependence on commercial loans add to the woes. Also, lack of geographic exposure can adversely affect its financial performance if the regional economy starts faltering.”
A number of other analysts have also weighed in on ASB. DA Davidson began coverage on shares of Associated Banc-Corp in a research note on Monday, October 3rd. They set an underperform rating and a $18.00 target price on the stock. Jefferies Group restated a buy rating on shares of Associated Banc-Corp in a research note on Monday, August 1st. Finally, 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 research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $19.63.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.60 on Friday. The company has a market capitalization of $2.91 billion, a PE ratio of 16.90 and a beta of 1.32. The stock has a 50 day moving average of $19.58 and a 200-day moving average of $18.40. 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 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 net margin of 16.73% and a return on equity of 6.44%. Analysts predict that Associated Banc-Corp will post $1.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is 37.93%.
In other news, CFO Moral-Niles Christopher Del sold 8,052 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $18.55, for a total value of $149,364.60. Following the completion of the sale, the chief financial officer now directly owns 79,644 shares of the company’s stock, valued at $1,477,396.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Williams acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was purchased at an average cost of $19.85 per share, with a total value of $39,700.00. The disclosure for this purchase can be found here. 2.09% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Associated Banc-Corp during the fourth quarter valued at $38,369,000. Aperio Group LLC increased its stake 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 during the last quarter. Teachers Advisors Inc. increased its stake 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 during the last quarter. Prudential Financial Inc. increased its stake 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 during the last quarter. Finally, BlackRock Inc. increased its stake in Associated Banc-Corp by 21.3% in the first quarter. BlackRock Inc. now owns 67,882 shares of the company’s stock valued at $1,217,000 after buying an additional 11,902 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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