Associated Banc-Corp (NYSE:ASB) – Investment analysts at SunTrust Banks increased their Q2 2018 earnings estimates for Associated Banc in a research note issued to investors on Sunday, May 13th. SunTrust Banks analyst M. Young now expects that the bank will post earnings of $0.52 per share for the quarter, up from their prior forecast of $0.44. SunTrust Banks also issued estimates for Associated Banc’s Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.49 EPS, FY2018 earnings at $2.02 EPS, Q1 2019 earnings at $0.50 EPS, Q2 2019 earnings at $0.53 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.52 EPS and FY2019 earnings at $2.08 EPS.
Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, April 19th. The bank reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $300.25 million for the quarter, compared to the consensus estimate of $292.49 million. Associated Banc had a net margin of 18.87% and a return on equity of 8.53%. During the same period last year, the company posted $0.35 EPS.
Other analysts also recently issued reports about the stock. Robert W. Baird upgraded shares of Associated Banc from a “neutral” rating to an “outperform” rating in a report on Friday, April 20th. Morgan Stanley dropped their target price 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. Barclays raised their target price on shares of Associated Banc from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, April 23rd. Zacks Investment Research downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Finally, ValuEngine downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Associated Banc has an average rating of “Hold” and a consensus price target of $27.40.
Shares of ASB stock opened at $26.90 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.00 and a beta of 1.00. Associated Banc has a 52 week low of $26.75 and a 52 week high of $27.15.
Several hedge funds and other institutional investors have recently bought and sold shares of ASB. Landaas & Co. WI ADV raised its holdings in shares of Associated Banc by 98.8% in the fourth 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 last quarter. QS Investors LLC grew its stake in shares of Associated Banc by 1,369.9% in the fourth 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. Savant Capital LLC bought a new position in shares of Associated Banc in the fourth quarter valued at $202,000. JOYN Advisors Inc. bought a new position in shares of Associated Banc in the fourth quarter valued at $209,000. Finally, WoodTrust Financial Corp bought a new position in shares of Associated Banc in the fourth quarter valued at $212,000. Institutional investors own 70.77% of the company’s stock.
In other news, insider Judith M. Docter sold 35,679 shares of Associated Banc stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $26.50, for a total value of $945,493.50. Following the sale, the insider now directly owns 44,332 shares in the company, valued at $1,174,798. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Hutchinson sold 15,032 shares of Associated Banc stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $24.42, for a total transaction of $367,081.44. Following the completion of the sale, the director now owns 81,013 shares in the company, valued at $1,978,337.46. The disclosure for this sale can be found here. Insiders sold 162,605 shares of company stock worth $4,236,977 over the last quarter. 2.13% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be issued a $0.15 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.23%. Associated Banc’s dividend payout ratio (DPR) is presently 39.47%.
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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