Associated Banc-Corp (NYSE:ASB) Posts Earnings Results, Meets Estimates
Associated Banc-Corp (NYSE:ASB) issued its quarterly earnings results on Thursday. The bank reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36, Bloomberg Earnings reports. Associated Banc-Corp had a net margin of 18.36% and a return on equity of 7.20%. During the same quarter last year, the business earned $0.31 EPS.
Associated Banc-Corp (NYSE ASB) traded up 0.61% during mid-day trading on Thursday, reaching $24.75. 674,713 shares of the company were exchanged. Associated Banc-Corp has a 12 month low of $17.77 and a 12 month high of $26.70. The company’s 50 day moving average price is $24.87 and its 200-day moving average price is $24.87. The stock has a market capitalization of $3.75 billion, a P/E ratio of 18.47 and a beta of 1.17.
In other news, CEO Philip B. Flynn sold 10,000 shares of Associated Banc-Corp stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $24.81, for a total value of $248,100.00. Following the transaction, the chief executive officer now owns 127,585 shares of the company’s stock, valued at approximately $3,165,383.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Yee sold 2,330 shares of Associated Banc-Corp stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $25.46, for a total transaction of $59,321.80. Following the completion of the transaction, the insider now directly owns 69,852 shares in the company, valued at approximately $1,778,431.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,330 shares of company stock worth $508,302. 1.80% of the stock is owned by corporate insiders.
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ASB has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a research note on Friday, April 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $24.00 price target on shares of Associated Banc-Corp in a research note on Thursday, March 23rd. SunTrust Banks, Inc. upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating in a research note 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 note on Tuesday, April 4th. Finally, BidaskClub upgraded shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $24.86.
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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