Associated Banc-Corp (ASB) Given a $26.00 Price Target at SunTrust Banks, Inc.
SunTrust Banks, Inc. set a $26.00 price target on Associated Banc-Corp (NYSE:ASB) in a research note published on Saturday. The firm currently has a hold rating on the bank’s stock. SunTrust Banks also issued estimates for Associated Banc-Corp’s Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.50 EPS, Q1 2018 earnings at $0.37 EPS and FY2019 earnings at $1.73 EPS.
Several other equities research analysts also recently weighed in on the stock. Jefferies Group LLC reaffirmed a hold rating and issued a $27.00 price objective on shares of Associated Banc-Corp in a report on Friday, August 11th. BidaskClub downgraded shares of Associated Banc-Corp from a sell rating to a strong sell rating in a report on Saturday, August 12th. Robert W. Baird reaffirmed a hold rating and issued a $25.00 price objective on shares of Associated Banc-Corp in a report on Sunday, October 1st. Zacks Investment Research raised shares of Associated Banc-Corp from a sell rating to a hold rating in a report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $26.00 price objective on shares of Associated Banc-Corp in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $25.40.
Shares of Associated Banc-Corp (NYSE ASB) traded up 5.28% during trading on Friday, reaching $25.90. 1,709,037 shares of the company’s stock were exchanged. The stock has a market capitalization of $3.94 billion, a PE ratio of 19.62 and a beta of 1.20. The company’s 50-day moving average is $23.59 and its 200 day moving average is $24.00. Associated Banc-Corp has a 52 week low of $19.30 and a 52 week high of $26.70.
Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. Associated Banc-Corp had a net margin of 19.54% and a return on equity of 7.85%. The company had revenue of $276.02 million during the quarter, compared to the consensus estimate of $276.88 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, analysts forecast that Associated Banc-Corp will post $1.43 earnings per share for the current year.
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In other Associated Banc-Corp news, Director Eileen A. Kamerick sold 4,500 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $23.57, for a total transaction of $106,065.00. Following the sale, the director now owns 27,004 shares in the company, valued at approximately $636,484.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher C. Piotrowski sold 16,218 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the sale, the insider now owns 30,479 shares in the company, valued at approximately $717,780.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,772 shares of company stock worth $914,334. 1.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Dempsey Capital Management LLC raised its holdings in Associated Banc-Corp by 40.5% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock worth $140,000 after buying an additional 1,597 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Associated Banc-Corp by 10.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock worth $149,000 after buying an additional 549 shares during the period. Meeder Asset Management Inc. raised its holdings in Associated Banc-Corp by 393.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock worth $178,000 after buying an additional 5,838 shares during the period. Flinton Capital Management LLC raised its holdings in Associated Banc-Corp by 73.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock worth $200,000 after buying an additional 3,360 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in Associated Banc-Corp during the 1st quarter worth about $210,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.
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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