Q3 2017 Earnings Forecast for Associated Banc-Corp Issued By DA Davidson (NYSE:ASB)

Associated Banc-Corp (NYSE:ASB) – Equities research analysts at DA Davidson cut their Q3 2017 earnings per share (EPS) estimates for Associated Banc-Corp in a research note issued on Friday. DA Davidson analyst K. Reevey now expects that the bank will earn $0.34 per share for the quarter, down from their previous estimate of $0.37. DA Davidson also issued estimates for Associated Banc-Corp’s Q4 2017 earnings at $0.38 EPS and FY2018 earnings at $1.55 EPS.

Associated Banc-Corp (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. The firm had revenue of $266.23 million for the quarter, compared to analysts’ expectations of $273.29 million. During the same period last year, the firm earned $0.31 earnings per share.

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A number of other research firms have also recently issued reports on ASB. Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 price target on shares of Associated Banc-Corp in a report on Sunday, June 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $26.00 price target on shares of Associated Banc-Corp in a report on Friday. Zacks Investment Research cut shares of Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, April 7th. SunTrust Banks, Inc. raised shares of Associated Banc-Corp from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. Finally, BidaskClub raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Associated Banc-Corp currently has an average rating of “Hold” and an average price target of $25.00.

Associated Banc-Corp (ASB) opened at 23.50 on Monday. Associated Banc-Corp has a 52 week low of $17.77 and a 52 week high of $26.70. The stock’s 50 day moving average price is $24.83 and its 200-day moving average price is $24.85. The company has a market capitalization of $3.56 billion, a PE ratio of 16.91 and a beta of 1.17.

A number of hedge funds have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC raised its stake in Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock valued at $156,000 after buying an additional 30 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Associated Banc-Corp by 1.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,175 shares of the bank’s stock valued at $541,000 after buying an additional 253 shares in the last quarter. Alpha Windward LLC raised its stake in Associated Banc-Corp by 1.6% in the second quarter. Alpha Windward LLC now owns 18,540 shares of the bank’s stock valued at $467,000 after buying an additional 300 shares in the last quarter. World Asset Management Inc raised its stake in Associated Banc-Corp by 3.5% in the first quarter. World Asset Management Inc now owns 9,393 shares of the bank’s stock valued at $229,000 after buying an additional 317 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in Associated Banc-Corp by 2.6% in the first quarter. Capstone Asset Management Co. now owns 16,071 shares of the bank’s stock valued at $392,000 after buying an additional 410 shares in the last quarter. Institutional investors own 77.94% of the company’s stock.

In related news, insider David L. Stein sold 8,000 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $25.11, for a total transaction of $200,880.00. Following the sale, the insider now owns 37,518 shares in the company, valued at $942,076.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $24.81, for a total transaction of $248,100.00. Following the sale, the chief executive officer now owns 127,585 shares in the company, valued at approximately $3,165,383.85. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

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.

Earnings History and Estimates for Associated Banc-Corp (NYSE:ASB)

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