Associated Banc-Corp (NYSE:ASB) Receives $19.33 Consensus Price Target from Brokerages
Shares of Associated Banc-Corp (NYSE:ASB) have been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $19.33.
A number of research firms recently issued reports on ASB. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, September 13th. Barclays PLC upped their price target on shares of Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 16th. Finally, Jefferies Group restated a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.59 on Thursday. The firm has a market cap of $2.91 billion, a P/E ratio of 16.89 and a beta of 1.39. The stock’s 50 day moving average price is $19.56 and its 200-day moving average price is $18.33. Associated Banc-Corp has a 12 month low of $15.45 and a 12 month high of $20.90.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. Associated Banc-Corp had a net margin of 16.73% and a return on equity of 6.44%. Equities research analysts anticipate that Associated Banc-Corp will post $1.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 37.93%.
In related news, insider John A. Utz sold 2,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $19.54, for a total transaction of $39,080.00. Following the transaction, the insider now directly owns 44,290 shares of the company’s stock, valued at $865,426.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $18.61, for a total transaction of $186,100.00. Following the transaction, the chief executive officer now directly owns 129,735 shares in the company, valued at $2,414,368.35. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its position in shares of Associated Banc-Corp by 0.7% in the second quarter. Chicago Partners Investment Group LLC now owns 6,304 shares of the company’s stock valued at $108,000 after buying an additional 41 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Associated Banc-Corp by 38.8% in the first quarter. Envestnet Asset Management Inc. now owns 9,463 shares of the company’s stock valued at $170,000 after buying an additional 2,643 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of Associated Banc-Corp by 0.3% in the first quarter. Rehmann Capital Advisory Group now owns 10,026 shares of the company’s stock valued at $180,000 after buying an additional 26 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Associated Banc-Corp during the first quarter valued at about $183,000. Finally, LS Investment Advisors LLC raised its position in shares of Associated Banc-Corp by 49.0% in the second quarter. LS Investment Advisors LLC now owns 11,828 shares of the company’s stock valued at $203,000 after buying an additional 3,889 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.
Associated Banc-Corp Company Profile
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 nonbanking 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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