Equities Analysts Set Expectations for Associated Banc-Corp’s Q1 2017 Earnings (ASB)
Associated Banc-Corp (NYSE:ASB) – Stock analysts at Jefferies Group issued their Q1 2017 EPS estimates for Associated Banc-Corp in a research note issued to investors on Tuesday. Jefferies Group analyst E. Harmon anticipates that the firm will post earnings of $0.30 per share for the quarter. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Associated Banc-Corp’s Q2 2017 earnings at $0.35 EPS, Q3 2017 earnings at $0.35 EPS and Q4 2017 earnings at $0.36 EPS.
Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Barclays PLC lifted 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. Deutsche Bank AG lifted their price target on shares of Associated Banc-Corp from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, DA Davidson initiated coverage on shares of Associated Banc-Corp in a research report on Monday, October 3rd. They issued an “underperform” rating and a $18.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.63.
Associated Banc-Corp (NYSE:ASB) traded up 1.05% during mid-day trading on Thursday, reaching $19.25. 527,823 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $19.54 and its 200 day moving average is $18.42. The stock has a market capitalization of $2.86 billion, a PE ratio of 16.59 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.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.31 EPS for the quarter, meeting 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%.
A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Associated Banc-Corp by 2.3% in the first quarter. Geode Capital Management LLC now owns 953,043 shares of the company’s stock worth $17,097,000 after buying an additional 21,282 shares in the last quarter. AXA acquired a new stake in Associated Banc-Corp during the first quarter worth $334,000. Quadrature Capital Ltd acquired a new stake in Associated Banc-Corp during the first quarter worth $368,000. Rafferty Asset Management LLC increased its stake in Associated Banc-Corp by 45.3% in the first quarter. Rafferty Asset Management LLC now owns 21,138 shares of the company’s stock worth $379,000 after buying an additional 6,588 shares in the last quarter. Finally, State Street Corp increased its stake in 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 in the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.
In other Associated Banc-Corp news, Director John B. Williams purchased 2,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were purchased at an average price of $19.85 per share, for a total transaction of $39,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Moral-Niles Christopher Del sold 8,052 shares of Associated Banc-Corp stock in a transaction 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 in the company, valued at approximately $1,477,396.20. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is currently 37.93%.
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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