Associated Banc-Corp (NYSE:ASB) – Investment analysts at Jefferies Group upped their Q1 2018 earnings per share (EPS) estimates for shares of Associated Banc in a report issued on Wednesday, April 4th. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $0.41 per share for the quarter, up from their prior estimate of $0.26.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research note on Monday. ValuEngine downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Morgan Stanley reduced their price target on shares of Associated Banc from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 31st. Barclays reaffirmed a “hold” rating and issued a $28.00 price target on shares of Associated Banc in a research note on Tuesday, January 30th. Finally, Piper Jaffray reaffirmed a “hold” rating and issued a $26.00 price target on shares of Associated Banc in a research note on Sunday, January 28th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Associated Banc presently has an average rating of “Hold” and a consensus target price of $26.30.
Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). The company had revenue of $272.00 million during the quarter, compared to analysts’ expectations of $281.38 million. Associated Banc had a return on equity of 8.05% and a net margin of 18.80%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.15 per share. This is an increase from Associated Banc’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 2.41%. Associated Banc’s dividend payout ratio (DPR) is 39.47%.
In other Associated Banc news, insider Timothy J. Lau sold 19,558 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $26.75, for a total transaction of $523,176.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John A. Utz sold 12,865 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $26.75, for a total transaction of $344,138.75. Following the transaction, the executive vice president now directly owns 42,384 shares in the company, valued at approximately $1,133,772. The disclosure for this sale can be found here. Insiders have sold a total of 143,018 shares of company stock worth $3,633,598 in the last three months. Insiders own 2.13% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Landaas & Co. WI ADV increased its position in Associated Banc by 98.8% during the 4th quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock valued at $107,000 after purchasing an additional 2,091 shares during the period. QS Investors LLC boosted its holdings in shares of Associated Banc by 1,369.9% in the 4th quarter. QS Investors LLC now owns 5,027 shares of the bank’s stock valued at $128,000 after buying an additional 4,685 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Associated Banc in the 3rd quarter valued at about $157,000. Savant Capital LLC bought a new stake in shares of Associated Banc in the 4th quarter valued at about $202,000. Finally, JOYN Advisors Inc. bought a new stake in shares of Associated Banc in the 4th quarter valued at about $209,000. 77.51% of the stock is currently owned by institutional investors and hedge funds.
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About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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