Associated Banc-Corp (ASB) Issues Earnings Results
Associated Banc-Corp (NYSE:ASB) posted its earnings results on Thursday. The bank reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05, Bloomberg Earnings reports. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same quarter last year, the firm posted $0.31 earnings per share.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 24.60 on Friday. The company has a market cap of $3.73 billion, a P/E ratio of 17.70 and a beta of 1.20. Associated Banc-Corp has a 12 month low of $19.00 and a 12 month high of $26.70. The stock’s 50 day moving average price is $23.48 and its 200-day moving average price is $23.99.
A number of research firms have weighed in on ASB. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc-Corp in a report on Friday, August 11th. BidaskClub lowered Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $24.00 target price on shares of Associated Banc-Corp in a report on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and set a $25.00 target price on shares of Associated Banc-Corp in a report on Sunday, October 1st. Finally, Zacks Investment Research raised Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $25.20.
In related news, insider John A. Utz sold 8,054 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $23.62, for a total transaction of $190,235.48. Following the completion of the sale, the insider now owns 44,405 shares in the company, valued at $1,048,846.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher C. Piotrowski sold 16,218 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the sale, 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. In the last 90 days, insiders sold 38,772 shares of company stock valued at $914,334. Company insiders own 1.80% of the company’s stock.
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 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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