Associated Banc-Corp (ASB) To Go Ex-Dividend on August 30th
Associated Banc-Corp (NYSE:ASB) declared a quarterly dividend on Wednesday, July 26th, Wall Street Journal reports. Investors of record on Friday, September 1st will be paid a dividend of 0.12 per share by the bank on Friday, September 15th. This represents a $0.48 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, August 30th.
Associated Banc-Corp has a dividend payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Associated Banc-Corp to earn $1.56 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 30.8%.
Associated Banc-Corp (ASB) opened at 22.05 on Friday. Associated Banc-Corp has a one year low of $18.85 and a one year high of $26.70. The stock has a market cap of $3.34 billion, a PE ratio of 15.86 and a beta of 1.16. The company’s 50 day moving average is $23.56 and its 200 day moving average is $24.50.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. The business had revenue of $266.23 million for the quarter, compared to analysts’ expectations of $273.29 million. During the same period in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts expect that Associated Banc-Corp will post $1.43 EPS for the current year.
In related news, CEO Philip B. Flynn sold 10,000 shares of Associated Banc-Corp stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $23.61, for a total value of $236,100.00. Following the transaction, the chief executive officer now owns 127,585 shares of the company’s stock, valued at approximately $3,012,281.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John A. Utz sold 8,054 shares of Associated Banc-Corp stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $23.62, for a total value of $190,235.48. Following the completion of the transaction, the insider now directly owns 44,405 shares in the company, valued at approximately $1,048,846.10. The disclosure for this sale can be found here. Insiders sold a total of 38,772 shares of company stock worth $914,334 in the last three months. 1.80% of the stock is currently owned by company insiders.
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A number of brokerages recently weighed in on ASB. BidaskClub cut shares of Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 30th. Royal Bank Of Canada restated a “hold” rating and set a $26.00 price objective on shares of Associated Banc-Corp in a research note on Friday, July 7th. Piper Jaffray Companies set a $25.00 price objective on shares of Associated Banc-Corp and gave the company a “hold” rating in a research note on Saturday, July 22nd. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $25.00 price objective (up from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $25.00.
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 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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