Associated Banc-Corp (ASB) Set to Announce Quarterly Earnings on Thursday
Associated Banc-Corp (NYSE:ASB) is scheduled to be issuing its Q316 quarterly earnings data on Thursday, October 20th. Analysts expect the company to announce earnings of $0.32 per share and revenue of $264.38 million for the quarter.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.35 on Wednesday. The firm’s 50 day moving average price is $19.52 and its 200-day moving average price is $18.44. Associated Banc-Corp has a 1-year low of $15.45 and a 1-year high of $20.90. The company has a market capitalization of $2.88 billion, a P/E ratio of 16.68 and a beta of 1.32.
In other news, CFO Moral-Niles Christopher Del sold 8,052 shares of the firm’s 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 $1,477,396.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Williams acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were acquired at an average price of $19.85 per share, for a total transaction of $39,700.00. The disclosure for this purchase can be found here. Company insiders own 2.09% of the company’s stock.
Large investors have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in Associated Banc-Corp by 24.7% in the second quarter. Alliancebernstein L.P. now owns 4,142,500 shares of the company’s stock valued at $71,044,000 after buying an additional 820,598 shares during the period. Columbia Wanger Asset Management LLC boosted its stake in Associated Banc-Corp by 14.9% in the second quarter. Columbia Wanger Asset Management LLC now owns 3,125,636 shares of the company’s stock valued at $53,605,000 after buying an additional 406,038 shares during the period. BlackRock Fund Advisors boosted its stake in Associated Banc-Corp by 3.5% in the second quarter. BlackRock Fund Advisors now owns 5,376,337 shares of the company’s stock valued at $92,204,000 after buying an additional 182,376 shares during the period. AQR Capital Management LLC boosted its stake in Associated Banc-Corp by 40.6% in the second quarter. AQR Capital Management LLC now owns 368,706 shares of the company’s stock valued at $6,323,000 after buying an additional 106,426 shares during the period. Finally, State of Tennessee Treasury Department acquired a new stake in Associated Banc-Corp during the second quarter valued at about $1,715,000. Institutional investors and hedge funds own 74.26% of the company’s stock.
ASB has been the topic of a number of recent research reports. Barclays PLC raised their price objective 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. Jefferies Group reaffirmed a “buy” rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, September 13th. Deutsche Bank AG raised their price objective on Associated Banc-Corp from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Finally, DA Davidson initiated coverage on Associated Banc-Corp in a research report on Monday, October 3rd. They set an “underperform” rating and a $18.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $19.63.
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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