Brokers Offer Predictions for Associated Banc Corp’s Q1 2018 Earnings (ASB)
Associated Banc Corp (NYSE:ASB) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of Associated Banc in a research report issued on Tuesday. Jefferies Group analyst C. Haire forecasts that the bank will post earnings of $0.39 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’s Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.46 EPS and Q4 2018 earnings at $0.48 EPS.
Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.05. Associated Banc had a return on equity of 7.81% and a net margin of 19.54%. The company had revenue of $276.02 million during the quarter, compared to analyst estimates of $276.88 million. During the same period in the prior year, the business posted $0.31 earnings per share.
Other research analysts have also recently issued reports about the company. Barclays upped their price target on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. SunTrust Banks restated a “hold” rating and set a $24.00 price target on shares of Associated Banc in a research note on Thursday, October 12th. Zacks Investment Research upgraded Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “neutral” rating on shares of Associated Banc in a research note on Friday, September 22nd. Finally, Piper Jaffray Companies restated a “hold” rating and set a $27.00 price target on shares of Associated Banc in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Associated Banc has a consensus rating of “Hold” and a consensus price target of $26.60.
Associated Banc (ASB) opened at $26.55 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.89 and a current ratio of 0.90. Associated Banc has a 52 week low of $20.95 and a 52 week high of $26.70. The company has a market capitalization of $4,013.43, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 2.17 and a beta of 1.19.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.3828 dividend. This represents a $1.53 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend was Thursday, November 30th. Associated Banc’s payout ratio is currently 38.36%.
In other news, insider Breck F. Hanson sold 11,373 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $24.92, for a total value of $283,415.16. Following the sale, the insider now directly owns 37,722 shares in the company, valued at $940,032.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 1,476 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $26.00, for a total value of $38,376.00. Following the completion of the sale, the chief financial officer now owns 81,784 shares in the company, valued at $2,126,384. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,876 shares of company stock worth $1,570,505. Insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Associated Banc by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock valued at $149,000 after acquiring an additional 549 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Associated Banc in the third quarter valued at $157,000. Meeder Asset Management Inc. raised its stake in shares of Associated Banc by 393.4% in the third quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock valued at $178,000 after acquiring an additional 5,838 shares in the last quarter. Flinton Capital Management LLC raised its stake in shares of Associated Banc by 73.4% in the second quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock valued at $200,000 after acquiring an additional 3,360 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its stake in shares of Associated Banc by 73.6% in the second quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock valued at $223,000 after acquiring an additional 3,754 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.
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About Associated Banc
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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