Brokers Issue Forecasts for Associated Banc-Corp’s Q3 2016 Earnings (ASB)
Associated Banc-Corp (NYSE:ASB) – Equities research analysts at DA Davidson issued their Q3 2016 earnings per share estimates for shares of Associated Banc-Corp in a research report issued to clients and investors on Monday. DA Davidson analyst K. Reevey forecasts that the firm will earn $0.32 per share for the quarter. DA Davidson has a “Underperform” rating and a $18.00 price objective on the stock. DA Davidson also issued estimates for Associated Banc-Corp’s Q4 2016 earnings at $0.34 EPS, Q1 2017 earnings at $0.33 EPS, Q2 2017 earnings at $0.34 EPS, Q3 2017 earnings at $0.35 EPS, Q4 2017 earnings at $0.37 EPS and FY2017 earnings at $1.38 EPS.
Associated Banc-Corp (NYSE:ASB) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.31 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. Associated Banc-Corp had a net margin of 16.73% and a return on equity of 6.44%.
Several other research analysts have also commented on ASB. Zacks Investment Research upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Jefferies Group restated a “buy” rating on shares of Associated Banc-Corp in a report on Monday, August 1st. Finally, Barclays PLC boosted their price objective on shares of Associated Banc-Corp from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.38.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 19.59 on Wednesday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 16.89 and a beta of 1.32. Associated Banc-Corp has a 52-week low of $15.45 and a 52-week high of $20.90. The firm’s 50 day moving average is $19.57 and its 200 day moving average is $18.35.
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 annualized dividend and a yield of 2.25%. The ex-dividend date was Tuesday, August 30th. Associated Banc-Corp’s dividend payout ratio is currently 37.93%.
In other news, Director John B. Williams bought 2,000 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was bought at an average cost of $19.85 per share, with a total value of $39,700.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Philip B. Flynn sold 10,000 shares of Associated Banc-Corp stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $18.61, for a total value of $186,100.00. Following the completion of the transaction, the chief executive officer now directly owns 129,735 shares of the company’s stock, valued at $2,414,368.35. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Associated Banc-Corp by 2.1% in the second quarter. Vanguard Group Inc. now owns 10,798,124 shares of the company’s stock valued at $185,188,000 after buying an additional 225,668 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Associated Banc-Corp by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 10,532,443 shares of the company’s stock worth $180,628,000 after buying an additional 1,255,448 shares in the last quarter. State Street Corp increased its position in shares of 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. BlackRock Fund Advisors increased its position in shares of Associated Banc-Corp by 3.5% in the second quarter. BlackRock Fund Advisors now owns 5,376,337 shares of the company’s stock worth $92,204,000 after buying an additional 182,376 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Associated Banc-Corp by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,382,524 shares of the company’s stock worth $78,622,000 after buying an additional 23,470 shares in the last quarter. 74.28% of the stock is owned by institutional investors.
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.
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