Associated Banc Corp (NYSE:ASB) – Equities research analysts at SunTrust Banks raised their FY2018 EPS estimates for Associated Banc in a report issued on Tuesday, October 30th. SunTrust Banks analyst M. Young now expects that the bank will earn $2.00 per share for the year, up from their prior forecast of $1.97. SunTrust Banks also issued estimates for Associated Banc’s Q4 2018 earnings at $0.47 EPS.
Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird reissued a “buy” rating and set a $30.00 target price on shares of Associated Banc in a research report on Tuesday, July 10th. ValuEngine cut shares of Associated Banc from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price target on shares of Associated Banc in a report on Friday, July 20th. Zacks Investment Research cut shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, Wells Fargo & Co set a $27.00 price target on shares of Associated Banc and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Associated Banc currently has a consensus rating of “Hold” and a consensus price target of $28.05.
NYSE:ASB opened at $23.42 on Friday. Associated Banc has a 52 week low of $22.00 and a 52 week high of $29.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $3.88 billion, a P/E ratio of 12.33, a PEG ratio of 1.67 and a beta of 1.01.
Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 18th. The bank reported $0.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.49. Associated Banc had a net margin of 20.53% and a return on equity of 9.44%. The company had revenue of $307.69 million during the quarter, compared to analysts’ expectations of $321.04 million. During the same quarter in the prior year, the company posted $0.34 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd purchased a new position in shares of Associated Banc during the second quarter worth $139,000. Landaas & Co. WI ADV purchased a new position in shares of Associated Banc during the second quarter worth $143,000. Hartford Investment Management Co. purchased a new position in shares of Associated Banc during the second quarter worth $202,000. Savant Capital LLC purchased a new position in shares of Associated Banc during the second quarter worth $217,000. Finally, HRT Financial LLC purchased a new position in shares of Associated Banc during the second quarter worth $238,000. 76.42% of the stock is owned by institutional investors and hedge funds.
In related news, Director William R. Hutchinson purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was acquired at an average price of $25.00 per share, with a total value of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $22.81, for a total transaction of $228,100.00. Following the completion of the transaction, the chief executive officer now directly owns 114,684 shares of the company’s stock, valued at approximately $2,615,942.04. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 121,000 shares of company stock valued at $3,025,000 and sold 17,341 shares valued at $431,803. Company insiders own 2.13% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.90%. This is a boost from Associated Banc’s previous quarterly dividend of $0.15. Associated Banc’s dividend payout ratio (DPR) is currently 39.47%.
Associated Banc Company Profile
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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