DA Davidson Weighs in on Associated Banc-Corp’s FY2016 Earnings (ASB)
Associated Banc-Corp (NYSE:ASB) – Investment analysts at DA Davidson issued their FY2016 EPS estimates for shares of Associated Banc-Corp in a research report issued to clients and investors on Monday. DA Davidson analyst K. Reevey forecasts that the firm will earn $1.24 per share for the year. DA Davidson currently has a “Underperform” rating and a $18.00 target price on the stock.
Several other research firms also recently issued reports on ASB. Zacks Investment Research downgraded Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday. Barclays PLC boosted their price objective on Associated Banc-Corp from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 16th. Finally, Jefferies Group restated a “buy” rating on shares of Associated Banc-Corp in a report on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.38.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.61 on Thursday. The firm has a market capitalization of $2.91 billion, a PE ratio of 16.91 and a beta of 1.32. Associated Banc-Corp has a 1-year low of $15.45 and a 1-year high of $20.90. The firm’s 50 day moving average is $19.58 and its 200 day moving average is $18.37.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Associated Banc-Corp had a net margin of 16.73% and a return on equity of 6.44%.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.24%. Associated Banc-Corp’s dividend payout ratio is 37.93%.
In related 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 value of $149,364.60. Following the completion of 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 document filed with the SEC, which is available at this link. Also, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $18.61, for a total value of $186,100.00. Following the completion of the sale, the chief executive officer now directly owns 129,735 shares of the company’s stock, valued at approximately $2,414,368.35. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Associated Banc-Corp by 3.0% in the first quarter. State Street Corp now owns 6,356,937 shares of the company’s stock worth $114,052,000 after buying an additional 185,248 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Associated Banc-Corp by 21.3% in the first quarter. BlackRock Inc. now owns 67,882 shares of the company’s stock worth $1,217,000 after buying an additional 11,902 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Associated Banc-Corp by 14.3% in the first quarter. Prudential Financial Inc. now owns 862,581 shares of the company’s stock worth $15,475,000 after buying an additional 108,154 shares during the last quarter. Norges Bank bought a new stake in shares of Associated Banc-Corp during the fourth quarter worth about $38,369,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Associated Banc-Corp by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 10,532,443 shares of the company’s stock worth $180,628,000 after buying an additional 1,255,448 shares during the last quarter. 74.28% of the stock is owned by institutional investors and hedge funds.
About Associated Banc-Corp
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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