Equities Analysts Offer Predictions for Associated Banc-Corp’s Q1 2017 Earnings (ASB)
Associated Banc-Corp (NYSE:ASB) – Equities researchers at Jefferies Group raised their Q1 2017 earnings per share (EPS) estimates for Associated Banc-Corp in a report released on Wednesday. Jefferies Group analyst C. Haire now forecasts that the firm will post earnings of $0.31 per share for the quarter, up from their prior forecast of $0.30. Jefferies Group currently has a “Hold” rating and a $24.00 target price on the stock. Jefferies Group also issued estimates for Associated Banc-Corp’s Q4 2017 earnings at $0.37 EPS.
A number of other research firms have also recently commented on ASB. Piper Jaffray Companies began coverage on shares of Associated Banc-Corp in a research report on Thursday. They issued a “neutral” rating on the stock. SunTrust Banks, Inc. began coverage on shares of Associated Banc-Corp in a research note on Tuesday, December 20th. They set a “hold” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Tuesday, January 3rd. Bank of America upgraded shares of Associated Banc-Corp from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $26.00 in a research note on Thursday, December 15th. Finally, Barclays PLC boosted their price target on shares of Associated Banc-Corp from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.56.
Associated Banc-Corp (NYSE:ASB) traded up 1.41% during mid-day trading on Friday, hitting $25.10. 273,026 shares of the stock were exchanged. The company has a 50 day moving average of $24.46 and a 200 day moving average of $20.59. The firm has a market cap of $3.74 billion, a P/E ratio of 21.09 and a beta of 1.21. Associated Banc-Corp has a 12-month low of $15.45 and a 12-month high of $25.43.
Associated Banc-Corp (NYSE:ASB) last posted its earnings results on Thursday, October 20th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Associated Banc-Corp had a net margin of 16.55% and a return on equity of 6.46%. During the same quarter in the prior year, the business posted $0.31 EPS.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.94%. This is an increase from Associated Banc-Corp’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, November 29th. Associated Banc-Corp’s dividend payout ratio is 40.34%.
In related news, insider James Yee sold 4,350 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $20.13, for a total value of $87,565.50. Following the completion of the transaction, the insider now directly owns 58,035 shares of the company’s stock, valued at $1,168,244.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert A. Jeffe sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $24.76, for a total value of $420,920.00. Following the completion of the transaction, the director now directly owns 21,815 shares of the company’s stock, valued at $540,139.40. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Associated Banc-Corp by 11.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,382 shares of the company’s stock worth $105,000 after buying an additional 566 shares during the period. Quantbot Technologies LP acquired a new position in shares of Associated Banc-Corp during the third quarter worth about $110,000. Tower Research Capital LLC TRC increased its position in shares of Associated Banc-Corp by 3,408.6% in the third quarter. Tower Research Capital LLC TRC now owns 5,684 shares of the company’s stock worth $111,000 after buying an additional 5,522 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Associated Banc-Corp by 0.6% in the third quarter. Chicago Partners Investment Group LLC now owns 6,340 shares of the company’s stock worth $124,000 after buying an additional 36 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of Associated Banc-Corp by 49.0% in the second quarter. LS Investment Advisors LLC now owns 11,828 shares of the company’s stock worth $203,000 after buying an additional 3,889 shares during the period. 75.17% of the stock is owned by hedge funds and other institutional investors.
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 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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