Associated Banc-Corp (ASB) Expected to Earn Q1 2018 Earnings of $0.28 Per Share
Associated Banc-Corp (NYSE:ASB) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for Associated Banc-Corp in a research note issued on Tuesday. Jefferies Group analyst C. Haire expects that the bank will earn $0.28 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $28.00 target price on the stock. Jefferies Group also issued estimates for Associated Banc-Corp’s FY2018 earnings at $1.50 EPS.
A number of other equities research analysts have also commented on ASB. BidaskClub lowered Associated Banc-Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Morgan Stanley reissued an “equal weight” rating and issued a $25.00 price target (up from $24.00) on shares of Associated Banc-Corp in a research report on Thursday, July 6th. Royal Bank Of Canada reissued a “hold” rating and issued a $26.00 price target on shares of Associated Banc-Corp in a research report on Friday, July 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 price target on shares of Associated Banc-Corp in a research report on Friday, July 21st. 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 equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.40.
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Associated Banc-Corp (NYSE:ASB) last released its earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $273.29 million. During the same period last year, the business earned $0.31 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid 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 1.95%. Associated Banc-Corp’s dividend payout ratio (DPR) is presently 34.53%.
In other Associated Banc-Corp news, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.61, for a total value of $236,100.00. Following the completion of the transaction, the chief executive officer now owns 127,585 shares in the company, valued at approximately $3,012,281.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Piotrowski sold 16,218 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $23.55, for a total value of $381,933.90. Following the completion of the transaction, the insider now owns 30,479 shares of the company’s stock, valued at approximately $717,780.45. 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. Corporate insiders own 1.80% of the company’s stock.
Large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its stake in shares of Associated Banc-Corp by 47.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 57,517 shares of the bank’s stock worth $1,449,000 after acquiring an additional 18,435 shares during the period. Alpha Windward LLC grew its stake in shares of Associated Banc-Corp by 1.6% during the 2nd quarter. Alpha Windward LLC now owns 18,540 shares of the bank’s stock worth $467,000 after acquiring an additional 300 shares during the period. Wells Fargo & Company MN grew its stake in shares of Associated Banc-Corp by 2.2% during the 2nd quarter. Wells Fargo & Company MN now owns 1,840,826 shares of the bank’s stock worth $46,389,000 after acquiring an additional 38,996 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Associated Banc-Corp by 85.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 42,157 shares of the bank’s stock worth $1,062,000 after acquiring an additional 19,461 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Associated Banc-Corp by 14.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,149,349 shares of the bank’s stock worth $28,963,000 after acquiring an additional 147,700 shares during the period. Hedge funds and other institutional investors own 77.47% of the company’s stock.
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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