Piper Jaffray Weighs in on Associated Banc-Corp’s Q2 2018 Earnings (ASB)

Associated Banc-Corp (NYSE:ASB) – Analysts at Piper Jaffray increased their Q2 2018 earnings per share estimates for Associated Banc in a research note issued to investors on Thursday, April 19th. Piper Jaffray analyst N. Race now anticipates that the bank will post earnings of $0.48 per share for the quarter, up from their previous estimate of $0.38. Piper Jaffray has a “Hold” rating and a $26.00 price objective on the stock. Piper Jaffray also issued estimates for Associated Banc’s Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.51 EPS, FY2018 earnings at $1.96 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.51 EPS, Q3 2019 earnings at $0.52 EPS, Q4 2019 earnings at $0.53 EPS and FY2019 earnings at $2.05 EPS.

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Several other research analysts also recently issued reports on ASB. Barclays upped their price objective on Associated Banc from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday. DA Davidson increased their target price on shares of Associated Banc from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday. Sandler O’Neill raised shares of Associated Banc from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada reissued a “hold” rating and set a $28.00 target price on shares of Associated Banc in a research report on Friday. Finally, Robert W. Baird raised shares of Associated Banc from a “neutral” rating to an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $27.20.

Associated Banc stock opened at $26.55 on Monday. Associated Banc has a 1 year low of $20.95 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $4,019.73, a PE ratio of 17.47, a PEG ratio of 2.09 and a beta of 0.99.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, April 19th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.09. Associated Banc had a return on equity of 8.53% and a net margin of 18.87%. The company had revenue of $300.25 million during the quarter, compared to the consensus estimate of $292.49 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share.

In other Associated Banc news, EVP John A. Utz sold 12,865 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $26.75, for a total transaction of $344,138.75. Following the completion of the sale, the executive vice president now owns 42,384 shares of the company’s stock, valued at approximately $1,133,772. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David L. Stein sold 15,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $25.40, for a total transaction of $391,160.00. Following the sale, the insider now directly owns 36,685 shares of the company’s stock, valued at approximately $931,799. The disclosure for this sale can be found here. Insiders have sold a total of 142,568 shares of company stock valued at $3,621,898 in the last three months. Insiders own 2.13% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Associated Banc by 3.8% during the 4th quarter. BlackRock Inc. now owns 12,786,592 shares of the bank’s stock worth $324,779,000 after buying an additional 471,331 shares during the period. Alliancebernstein L.P. grew its position in shares of Associated Banc by 4.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,609,209 shares of the bank’s stock worth $117,074,000 after buying an additional 187,460 shares during the period. Cramer Rosenthal Mcglynn LLC grew its position in shares of Associated Banc by 2.0% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 3,746,357 shares of the bank’s stock worth $95,157,000 after buying an additional 71,836 shares during the period. Wells Fargo & Company MN grew its position in shares of Associated Banc by 5.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,883,424 shares of the bank’s stock worth $47,840,000 after buying an additional 102,432 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Associated Banc by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,294,785 shares of the bank’s stock worth $32,887,000 after buying an additional 22,311 shares during the period. 77.45% of the stock is owned by institutional investors.

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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.

Earnings History and Estimates for Associated Banc (NYSE:ASB)

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