Associated Banc-Corp (ASB) Set to Announce Quarterly Earnings on Thursday
Associated Banc-Corp (NYSE:ASB) will announce its Q316 earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $0.32 per share and revenue of $264.38 million for the quarter.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.35 on Wednesday. Associated Banc-Corp has a 12-month low of $15.45 and a 12-month high of $20.90. The stock’s 50 day moving average price is $19.52 and its 200 day moving average price is $18.44. The firm has a market cap of $2.88 billion, a PE ratio of 16.68 and a beta of 1.32.
In related news, CFO Moral-Niles Christopher Del sold 8,052 shares of Associated Banc-Corp stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $18.55, for a total transaction of $149,364.60. Following the completion of the sale, the chief financial officer now owns 79,644 shares of the company’s stock, valued at approximately $1,477,396.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Judith M. Docter sold 8,000 shares of Associated Banc-Corp stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $18.66, for a total transaction of $149,280.00. Following the sale, the insider now directly owns 43,608 shares of the company’s stock, valued at approximately $813,725.28. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/associated-banc-corp-asb-set-to-announce-quarterly-earnings-on-thursday.html
Several hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of Associated Banc-Corp by 3.5% in the second quarter. BlackRock Fund Advisors now owns 5,376,337 shares of the company’s stock valued at $92,204,000 after buying an additional 182,376 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Associated Banc-Corp by 24.7% in the second quarter. Alliancebernstein L.P. now owns 4,142,500 shares of the company’s stock valued at $71,044,000 after buying an additional 820,598 shares during the period. Columbia Wanger Asset Management LLC boosted its stake in shares of Associated Banc-Corp by 14.9% in the second quarter. Columbia Wanger Asset Management LLC now owns 3,125,636 shares of the company’s stock valued at $53,605,000 after buying an additional 406,038 shares during the period. BlackRock Investment Management LLC boosted its stake in shares of Associated Banc-Corp by 2.3% in the second quarter. BlackRock Investment Management LLC now owns 442,673 shares of the company’s stock valued at $7,592,000 after buying an additional 10,087 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Associated Banc-Corp by 40.6% in the second quarter. AQR Capital Management LLC now owns 368,706 shares of the company’s stock valued at $6,323,000 after buying an additional 106,426 shares during the period. 74.26% of the stock is owned by institutional investors and hedge funds.
ASB has been the topic of several recent analyst reports. Zacks Investment Research raised Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, September 13th. DA Davidson initiated coverage on Associated Banc-Corp in a report on Monday, October 3rd. They set an “underperform” rating and a $18.00 target price on the stock. Deutsche Bank AG boosted their target price on Associated Banc-Corp from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. Jefferies Group reissued a “buy” rating on shares of Associated Banc-Corp in a report on Monday, August 1st. Finally, Barclays PLC boosted their target price on Associated Banc-Corp from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.63.
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 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.
Receive News & Ratings for Associated Banc-Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc-Corp and related companies with MarketBeat.com's FREE daily email newsletter.