Associated Banc-Corp to Post Q3 2016 Earnings of $0.32 Per Share, DA Davidson Forecasts (ASB)
Associated Banc-Corp (NYSE:ASB) – DA Davidson issued their Q3 2016 earnings estimates for shares of Associated Banc-Corp in a report released on Monday. DA Davidson analyst K. Reevey expects that the brokerage will post earnings per share of $0.32 for the quarter. DA Davidson has a “Underperform” rating and a $18.00 price target on the stock. DA Davidson also issued estimates for Associated Banc-Corp’s Q4 2016 earnings at $0.34 EPS, Q1 2017 earnings at $0.33 EPS, Q2 2017 earnings at $0.34 EPS, Q3 2017 earnings at $0.35 EPS, Q4 2017 earnings at $0.37 EPS and FY2017 earnings at $1.38 EPS.
ASB has been the topic of several other research reports. Zacks Investment Research upgraded Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, September 13th. Jefferies Group restated a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Finally, Barclays PLC boosted their price target on 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Associated Banc-Corp presently has a consensus rating of “Hold” and an average price target of $19.38.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.66 on Wednesday. Associated Banc-Corp has a 12-month low of $15.45 and a 12-month high of $20.90. The company has a 50 day moving average price of $19.58 and a 200 day moving average price of $18.36. The firm has a market cap of $2.92 billion, a PE ratio of 16.95 and a beta of 1.32.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is 37.93%.
In other news, CFO Moral-Niles Christopher Del sold 8,052 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $18.55, for a total transaction of $149,364.60. Following the sale, the chief financial officer now owns 79,644 shares of the company’s stock, valued at approximately $1,477,396.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Yee sold 9,983 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $19.19, for a total value of $191,573.77. Following the sale, the insider now directly owns 72,368 shares in the company, valued at approximately $1,388,741.92. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its stake 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 during the period. Rehmann Capital Advisory Group raised its stake 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 during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Associated Banc-Corp during the first quarter valued at approximately $183,000. LS Investment Advisors LLC raised its stake 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 during the period. Finally, Calvert Investment Management Inc. raised its stake in shares of Associated Banc-Corp by 1.5% in the second quarter. Calvert Investment Management Inc. now owns 12,014 shares of the company’s stock valued at $206,000 after buying an additional 179 shares during the period. 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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