Associated Banc Corp (ASB) Given Consensus Rating of “Hold” by Brokerages
Shares of Associated Banc Corp (NYSE:ASB) have received a consensus rating of “Hold” from the ten brokerages that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $24.07.
ASB has been the topic of several research reports. SunTrust Banks, Inc. raised shares of Associated Banc Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 29th. Barclays PLC raised their price target on shares of Associated Banc Corp to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, January 20th. Zacks Investment Research downgraded shares of Associated Banc Corp from a “buy” rating to a “hold” rating in a research note on Friday, April 7th. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc Corp in a research note on Tuesday, April 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.00 target price on shares of Associated Banc Corp in a research note on Thursday, March 23rd.
In other Associated Banc Corp news, insider Judith M. Docter sold 20,000 shares of Associated Banc Corp stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $26.30, for a total transaction of $526,000.00. Following the transaction, the insider now directly owns 41,276 shares of the company’s stock, valued at $1,085,558.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip B. Flynn sold 10,000 shares of Associated Banc Corp stock in a transaction dated 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 in the company, valued at $3,165,383.85. The disclosure for this sale can be found here. Insiders have sold 323,646 shares of company stock worth $8,382,303 over the last ninety days. 2.09% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of Associated Banc Corp by 61.0% in the first quarter. Acrospire Investment Management LLC now owns 4,830 shares of the bank’s stock worth $118,000 after buying an additional 1,830 shares during the period. Flinton Capital Management LLC purchased a new position in shares of Associated Banc Corp during the fourth quarter worth approximately $120,000. Chicago Partners Investment Group LLC increased its position in shares of Associated Banc Corp by 0.6% in the third quarter. Chicago Partners Investment Group LLC now owns 6,340 shares of the bank’s stock worth $124,000 after buying an additional 36 shares during the period. World Asset Management Inc increased 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. Finally, Fox Run Management L.L.C. purchased a new position in shares of Associated Banc Corp during the first quarter worth approximately $237,000. 75.96% of the stock is currently owned by institutional investors.
Shares of Associated Banc Corp (NYSE:ASB) opened at 25.45 on Friday. Associated Banc Corp has a 12 month low of $15.72 and a 12 month high of $26.70. The stock’s 50 day moving average is $24.34 and its 200 day moving average is $23.99. The stock has a market capitalization of $3.84 billion, a PE ratio of 18.99 and a beta of 1.18.
Associated Banc Corp (NYSE:ASB) last posted its quarterly earnings results on Thursday, April 20th. The bank reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The firm had revenue of $260.11 million for the quarter, compared to the consensus estimate of $266.24 million. Associated Banc Corp had a net margin of 17.31% and a return on equity of 6.81%. During the same period last year, the firm posted $0.27 earnings per share. Analysts anticipate that Associated Banc Corp will post $1.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 30th. Associated Banc Corp’s dividend payout ratio (DPR) is presently 38.10%.
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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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