Q3 2017 EPS Estimates for Associated Banc-Corp Raised by Analyst (ASB)
Associated Banc-Corp (NYSE:ASB) – Equities researchers at Jefferies Group boosted their Q3 2017 earnings estimates for shares of Associated Banc-Corp in a note issued to investors on Monday. Jefferies Group analyst C. Haire now expects that the bank will post earnings per share of $0.37 for the quarter, up from their previous forecast of $0.36. Jefferies Group has a “Hold” rating and a $27.00 price target on the stock. Jefferies Group also issued estimates for Associated Banc-Corp’s FY2017 earnings at $1.48 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.60 EPS and FY2019 earnings at $1.75 EPS.
Associated Banc-Corp (NYSE:ASB) last issued its earnings results on Thursday, July 20th. The bank reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $266.23 million during the quarter, compared to the consensus estimate of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same quarter in the previous year, the firm earned $0.31 earnings per share.
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A number of other analysts also recently issued reports on ASB. BidaskClub downgraded Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Robert W. Baird reiterated a “hold” rating and set a $25.00 price target on shares of Associated Banc-Corp in a research report on Sunday, October 1st. Zacks Investment Research upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of Associated Banc-Corp in a research report on Friday, September 22nd. Finally, Piper Jaffray Companies set a $25.00 price target on Associated Banc-Corp and gave the company a “hold” rating in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.00.
Associated Banc-Corp (NYSE ASB) opened at 24.70 on Wednesday. The firm has a market cap of $3.75 billion, a P/E ratio of 17.77 and a beta of 1.20. The firm’s 50-day moving average price is $22.98 and its 200 day moving average price is $23.97. Associated Banc-Corp has a 52 week low of $18.85 and a 52 week high of $26.70.
Large investors have recently added to or reduced their stakes in the stock. Morgan Dempsey Capital Management LLC lifted its position in Associated Banc-Corp by 40.5% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock worth $140,000 after buying an additional 1,597 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Associated Banc-Corp by 10.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock worth $149,000 after buying an additional 549 shares during the last quarter. Flinton Capital Management LLC lifted its position in Associated Banc-Corp by 73.4% in the 2nd quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock worth $200,000 after buying an additional 3,360 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Associated Banc-Corp in the 1st quarter worth approximately $210,000. Finally, Riverhead Capital Management LLC lifted its position in Associated Banc-Corp by 73.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock worth $223,000 after buying an additional 3,754 shares during the last quarter. Institutional investors own 77.47% of the company’s stock.
In related news, insider Christopher C. Piotrowski sold 16,218 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the completion of the sale, the insider now owns 30,479 shares in the company, valued at approximately $717,780.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John A. Utz sold 8,054 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $23.62, for a total value of $190,235.48. Following the completion of the sale, the insider now owns 44,405 shares of the company’s stock, valued at approximately $1,048,846.10. The disclosure for this sale can be found here. Insiders sold a total of 38,772 shares of company stock valued at $914,334 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.12 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.94%. Associated Banc-Corp’s payout ratio is 34.53%.
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 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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