Associated Banc Corp (NYSE:ASB) – Equities researchers at DA Davidson increased their Q1 2018 earnings estimates for Associated Banc in a note issued to investors on Monday, according to Zacks Investment Research. DA Davidson analyst K. Reevey now anticipates that the bank will post earnings per share of $0.43 for the quarter, up from their prior estimate of $0.39. DA Davidson also issued estimates for Associated Banc’s Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.45 EPS, FY2018 earnings at $1.72 EPS and FY2019 earnings at $1.97 EPS.
Other equities research analysts have also recently issued research reports about the stock. Barclays increased their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Morgan Stanley cut 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 report on Wednesday, January 31st. Zacks Investment Research cut shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies reiterated a “hold” rating and set a $26.00 price target on shares of Associated Banc in a report on Sunday, January 28th. Finally, SunTrust Banks reiterated a “hold” rating and set a $27.00 price target on shares of Associated Banc in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. Associated Banc presently has a consensus rating of “Hold” and a consensus target price of $26.30.
Shares of Associated Banc (NYSE:ASB) opened at $24.75 on Tuesday. Associated Banc has a fifty-two week low of $20.95 and a fifty-two week high of $26.70. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10. The company has a market cap of $3,750.00, a P/E ratio of 16.39, a PEG ratio of 1.95 and a beta of 1.08.
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 Zacks’ consensus estimate of $0.38 by ($0.07). Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The firm had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $281.38 million. During the same quarter in the previous year, the company earned $0.34 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.15 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 2.42%. This is a boost from Associated Banc’s previous quarterly dividend of $0.14. Associated Banc’s dividend payout ratio (DPR) is currently 37.09%.
In other news, CFO Moral-Niles Christopher Del sold 11,999 shares of Associated Banc stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $24.72, for a total transaction of $296,615.28. Following the transaction, the chief financial officer now owns 81,092 shares in the company, valued at approximately $2,004,594.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Breck F. Hanson sold 11,373 shares of Associated Banc stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $24.92, for a total transaction of $283,415.16. Following the transaction, the insider now owns 37,722 shares in the company, valued at approximately $940,032.24. The disclosure for this sale can be found here. Insiders sold 90,656 shares of company stock worth $2,272,910 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of Associated Banc by 1.0% during the 2nd quarter. Citigroup Inc. now owns 16,135 shares of the bank’s stock worth $407,000 after acquiring an additional 155 shares during the last quarter. Suntrust Banks Inc. boosted its stake in shares of Associated Banc by 3.5% during the 2nd quarter. Suntrust Banks Inc. now owns 20,192 shares of the bank’s stock worth $508,000 after acquiring an additional 679 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Associated Banc by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 45,582 shares of the bank’s stock worth $1,149,000 after acquiring an additional 806 shares during the last quarter. Landaas & Co. WI ADV boosted its stake in shares of Associated Banc by 98.8% during the 4th quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock worth $107,000 after acquiring an additional 2,091 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Associated Banc by 11.6% during the 3rd quarter. Pacer Advisors Inc. now owns 20,892 shares of the bank’s stock worth $507,000 after acquiring an additional 2,175 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.
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About Associated Banc
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 non-banking 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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