BidaskClub upgraded shares of Associated Banc-Corp (NYSE:ASB) from a sell rating to a hold rating in a report released on Thursday.
A number of other equities research analysts also recently issued reports on ASB. Keefe, Bruyette & Woods reiterated a hold rating and set a $24.00 price target on shares of Associated Banc-Corp in a research report on Thursday, March 23rd. SunTrust Banks, Inc. upgraded shares of Associated Banc-Corp from a hold rating to a buy rating in a research report on Wednesday, March 29th. Jefferies Group LLC reiterated a hold rating and set a $27.00 price target on shares of Associated Banc-Corp in a research report on Tuesday, April 4th. Finally, Zacks Investment Research downgraded shares of Associated Banc-Corp from a buy rating to a hold rating in a research report on Friday, April 7th. One equities research analyst has rated the stock with a sell rating, ten 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 $24.86.
Shares of Associated Banc-Corp (NYSE ASB) opened at 25.25 on Thursday. Associated Banc-Corp has a 1-year low of $17.06 and a 1-year high of $26.70. The firm’s 50-day moving average price is $24.56 and its 200 day moving average price is $24.85. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 18.84 and a beta of 1.17.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, April 20th. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. Associated Banc-Corp had a net margin of 18.36% and a return on equity of 7.20%. The company had revenue of $260.11 million during the quarter, compared to the consensus estimate of $266.24 million. During the same period last year, the firm earned $0.27 EPS. Equities research analysts expect that Associated Banc-Corp will post $1.45 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.90%. Associated Banc-Corp’s dividend payout ratio (DPR) is 35.82%.
In other news, insider David L. Stein sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $25.11, for a total transaction of $200,880.00. Following the completion of the transaction, the insider now directly owns 37,518 shares of the company’s stock, valued at approximately $942,076.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 20,330 shares of company stock valued at $508,302. Corporate insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ASB. Chicago Partners Investment Group LLC boosted its position in shares of 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 period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Associated Banc-Corp by 1.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,175 shares of the bank’s stock worth $541,000 after buying an additional 253 shares during the period. World Asset Management Inc boosted its position in shares of 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 period. Capstone Asset Management Co. boosted its position in shares of Associated Banc-Corp by 2.6% in the first quarter. Capstone Asset Management Co. now owns 16,071 shares of the bank’s stock worth $392,000 after buying an additional 410 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of Associated Banc-Corp by 2.9% in the first quarter. Suntrust Banks Inc. now owns 19,513 shares of the bank’s stock worth $476,000 after buying an additional 554 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.
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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