Jefferies Group Comments on Associated Banc-Corp’s Q1 2017 Earnings (ASB)
Associated Banc-Corp (NYSE:ASB) – Equities researchers at Jefferies Group issued their Q1 2017 EPS estimates for shares of Associated Banc-Corp in a research note issued to investors on Tuesday. Jefferies Group analyst E. Harmon forecasts that the firm will post earnings of $0.30 per share for the quarter. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Associated Banc-Corp’s Q2 2017 earnings at $0.35 EPS, Q3 2017 earnings at $0.35 EPS and Q4 2017 earnings at $0.36 EPS.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, October 7th. Barclays PLC boosted their target price on Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, August 16th. Deutsche Bank AG upped their price objective on Associated Banc-Corp from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, DA Davidson assumed coverage on Associated Banc-Corp in a research note on Monday, October 3rd. They set an “underperform” rating and a $18.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.63.
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Associated Banc-Corp (NYSE:ASB) traded down 2.55% during trading on Thursday, hitting $19.10. The stock had a trading volume of 550,367 shares. The firm has a market cap of $2.84 billion, a P/E ratio of 16.47 and a beta of 1.32. The stock’s 50 day moving average price is $19.58 and its 200 day moving average price is $18.40. Associated Banc-Corp has a 12-month low of $15.45 and a 12-month high of $20.90.
Several large investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its stake in shares of Associated Banc-Corp by 0.7% in the second quarter. Chicago Partners Investment Group LLC now owns 6,304 shares of the company’s stock worth $108,000 after buying an additional 41 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of Associated Banc-Corp during the first quarter worth approximately $183,000. Parametrica Management Ltd bought a new stake in shares of Associated Banc-Corp during the third quarter worth approximately $212,000. LS Investment Advisors LLC boosted its stake in shares of Associated Banc-Corp by 49.0% in the second quarter. LS Investment Advisors LLC now owns 11,828 shares of the company’s stock worth $203,000 after buying an additional 3,889 shares during the period. Finally, Calvert Investment Management Inc. boosted its stake in shares of Associated Banc-Corp by 1.5% in the second quarter. Calvert Investment Management Inc. now owns 12,014 shares of the company’s stock worth $206,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 74.28% of the company’s stock.
In related news, insider James Yee sold 9,983 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $19.19, for a total value of $191,573.77. Following the sale, the insider now owns 72,368 shares in the company, valued at approximately $1,388,741.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $18.61, for a total value of $186,100.00. Following the completion of the sale, the chief executive officer now owns 129,735 shares in the company, valued at approximately $2,414,368.35. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio is currently 37.93%.
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 nonbanking 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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