Associated Banc Corp Receives Consensus Rating of “Hold” from Analysts (NASDAQ:ASBC)
Associated Banc Corp (NASDAQ:ASBC) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, StockRatingsNetwork reports. Seven investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.50.
A number of analysts have recently weighed in on ASBC shares. Analysts at Macquarie reiterated a “neutral” rating on shares of Associated Banc Corp in a research note on Monday, July 21st. They now have a $17.50 price target on the stock, up previously from $17.00. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Associated Banc Corp from $17.50 to $18.00 in a research note on Friday, July 18th. Finally, analysts at Robert W. Baird raised their price target on shares of Associated Banc Corp from $17.00 to $18.00 in a research note on Friday, July 18th.
Associated Banc Corp (NASDAQ:ASBC) traded up 0.76% on Thursday, hitting $17.89. 76,752 shares of the company’s stock traded hands. Associated Banc Corp has a 52 week low of $15.06 and a 52 week high of $19.06. The stock’s 50-day moving average is $18.08 and its 200-day moving average is $17.50. The company has a market cap of $2.771 billion and a price-to-earnings ratio of 16.14. Associated Banc Corp also was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 8,376,028 shares, an increase of 51.8% from the July 15th total of 5,518,236 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average trading volume of 1,313,311 shares, the short-interest ratio is currently 6.4 days.
Associated Banc Corp (NASDAQ:ASBC) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.28 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.28. During the same quarter last year, the company posted $0.28 earnings per share. On average, analysts predict that Associated Banc Corp will post $1.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, August 28th.
In other Associated Banc Corp news, CFO Moral-Niles Christopher Del unloaded 3,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $17.52, for a total value of $52,560.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Associated Banc-Corp (NASDAQ:ASBC) is a bank holding company.
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