Associated Banc-Corp (ASB) Research Coverage Started at DA Davidson
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Associated Banc-Corp from a sell rating to a hold rating in a report on Wednesday, June 22nd. Barclays PLC lifted their price target on shares of Associated Banc-Corp from $19.00 to $20.00 and gave the company an equal weight rating in a research report on Tuesday, August 16th. Finally, Jefferies Group reaffirmed a buy rating on shares of Associated Banc-Corp in a research report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $19.38.
Associated Banc-Corp (NYSE:ASB) opened at 19.59 on Monday. Associated Banc-Corp has a 52 week low of $15.45 and a 52 week high of $20.90. The company has a market cap of $2.91 billion, a PE ratio of 16.89 and a beta of 1.32. The company has a 50-day moving average price of $19.57 and a 200 day moving average price of $18.35.
Associated Banc-Corp (NYSE:ASB) last issued its earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Associated Banc-Corp had a return on equity of 6.44% and a net margin of 16.73%. On average, equities research analysts forecast that Associated Banc-Corp will post $1.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, August 30th. Associated Banc-Corp’s payout ratio is 37.93%.
In related news, Director John B. Williams acquired 2,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were acquired at an average price of $19.85 per share, with a total value of $39,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Moral-Niles Christopher Del sold 8,052 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $18.55, for a total value of $149,364.60. Following the sale, the chief financial officer now directly owns 79,644 shares in the company, valued at approximately $1,477,396.20. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in Associated Banc-Corp during the first quarter worth $368,000. Rafferty Asset Management LLC raised its stake in Associated Banc-Corp by 45.3% in the first quarter. Rafferty Asset Management LLC now owns 21,138 shares of the company’s stock worth $379,000 after buying an additional 6,588 shares in the last quarter. State Street Corp raised its stake in Associated Banc-Corp by 3.0% in the first quarter. State Street Corp now owns 6,356,937 shares of the company’s stock worth $114,052,000 after buying an additional 185,248 shares in the last quarter. Associated Banc Corp raised its stake in Associated Banc-Corp by 1.4% in the first quarter. Associated Banc Corp now owns 3,222,052 shares of the company’s stock worth $57,804,000 after buying an additional 44,397 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Associated Banc-Corp by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 3,938,547 shares of the company’s stock worth $70,657,000 after buying an additional 167,106 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.
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 nonbanking 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.
Receive News & Ratings for Associated Banc-Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc-Corp and related companies with MarketBeat.com's FREE daily email newsletter.