FY2018 EPS Estimates for Associated Banc-Corp Decreased by Analyst (ASB)
Associated Banc-Corp (NYSE:ASB) – Equities research analysts at DA Davidson cut their FY2018 earnings estimates for Associated Banc-Corp in a note issued to investors on Tuesday. DA Davidson analyst K. Reevey now anticipates that the bank will post earnings per share of $1.51 for the year, down from their previous forecast of $1.55. DA Davidson also issued estimates for Associated Banc-Corp’s FY2019 earnings at $1.80 EPS.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. The business had revenue of $266.23 million for the quarter, compared to analyst estimates of $273.29 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share.
A number of other analysts have also recently commented on ASB. 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. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, June 21st. Morgan Stanley restated an “equal weight” rating and set a $25.00 price objective (up from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Piper Jaffray Companies set a $25.00 target price on shares of Associated Banc-Corp and gave the company a “hold” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $25.00.
Shares of Associated Banc-Corp (NYSE:ASB) traded down 3.059% on Wednesday, hitting $22.975. 1,401,824 shares of the stock traded hands. The stock has a market cap of $3.48 billion, a P/E ratio of 16.529 and a beta of 1.17. Associated Banc-Corp has a 52-week low of $17.77 and a 52-week high of $26.70. The stock’s 50 day moving average price is $24.83 and its 200 day moving average price is $24.85.
A number of large investors have recently added to or reduced their stakes in ASB. Victory Capital Management Inc. boosted its position in shares of Associated Banc-Corp by 4.6% in the first quarter. Victory Capital Management Inc. now owns 5,176,832 shares of the bank’s stock worth $126,315,000 after buying an additional 228,539 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Associated Banc-Corp by 2.5% in the first quarter. Retirement Systems of Alabama now owns 195,982 shares of the bank’s stock worth $4,782,000 after buying an additional 4,768 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Associated Banc-Corp by 49.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 33,592 shares of the bank’s stock worth $819,000 after buying an additional 11,086 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Associated Banc-Corp by 1.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 68,620 shares of the bank’s stock worth $1,674,000 after buying an additional 950 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. boosted its stake in Associated Banc-Corp by 71.9% in the first quarter. Waratah Capital Advisors Ltd. now owns 61,221 shares of the bank’s stock worth $1,494,000 after buying an additional 25,617 shares in the last quarter. 77.94% of the stock is owned by institutional investors.
In other Associated Banc-Corp news, insider David L. Stein sold 8,000 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $25.11, for a total value of $200,880.00. Following the completion of the sale, the insider now owns 37,518 shares of the company’s stock, valued at $942,076.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at approximately $3,165,383.85. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio is presently 34.53%.
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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