Associated Banc-Corp (ASB) to Post FY2018 Earnings of $1.51 Per Share, DA Davidson Forecasts
Associated Banc-Corp (NYSE:ASB) – Equities research analysts at DA Davidson reduced their FY2018 EPS estimates for shares of Associated Banc-Corp in a research report issued on Tuesday. DA Davidson analyst K. Reevey now anticipates that the bank will post earnings of $1.51 per share for the year, down from their prior estimate of $1.55. DA Davidson also issued estimates for Associated Banc-Corp’s FY2019 earnings at $1.80 EPS.
Several other equities research analysts have also weighed in on ASB. Piper Jaffray Companies set a $25.00 target price on Associated Banc-Corp and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $26.00 target price on shares of Associated Banc-Corp in a research report on Friday, July 21st. Zacks Investment Research lowered Associated Banc-Corp from a “hold” rating to a “sell” rating in a research report on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 target price on shares of Associated Banc-Corp in a research report on Friday, July 14th. Finally, BidaskClub lowered Associated Banc-Corp from a “hold” rating to a “sell” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $25.00.
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Shares of Associated Banc-Corp (ASB) traded up 1.623% during trading on Wednesday, reaching $23.475. 832,483 shares of the company’s stock traded hands. The company has a 50 day moving average of $24.79 and a 200-day moving average of $24.83. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 16.888 and a beta of 1.17. Associated Banc-Corp has a 1-year low of $18.23 and a 1-year high of $26.70.
Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $266.23 million for the quarter, compared to analysts’ expectations of $273.29 million. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. During the same period in the previous year, the company posted $0.31 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is 34.53%.
In other news, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $24.81, for a total transaction of $248,100.00. Following the transaction, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at $3,165,383.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David L. Stein sold 8,000 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $25.11, for a total value of $200,880.00. Following the transaction, the insider now directly owns 37,518 shares in the company, valued at $942,076.98. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its position in Associated Banc-Corp by 61.0% in the first quarter. Acrospire Investment Management LLC now owns 4,830 shares of the bank’s stock worth $118,000 after buying an additional 1,830 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock worth $156,000 after buying an additional 30 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Associated Banc-Corp during the first quarter worth about $210,000. Envestnet Asset Management Inc. raised its position in Associated Banc-Corp by 14.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,195 shares of the bank’s stock worth $224,000 after buying an additional 1,147 shares during the last quarter. Finally, World Asset Management Inc raised its position in Associated Banc-Corp by 3.5% in the first quarter. World Asset Management Inc now owns 9,393 shares of the bank’s stock worth $229,000 after buying an additional 317 shares during the last quarter. 77.94% of the stock is currently owned by hedge funds and other institutional investors.
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 non-banking 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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