BidaskClub downgraded shares of Associated Banc-Corp (NYSE:ASB) from a sell rating to a strong sell rating in a report released on Saturday.
A number of other research analysts have also weighed in on ASB. Jefferies Group LLC reissued a hold rating and set a $27.00 target price on shares of Associated Banc-Corp in a report on Sunday, June 11th. Zacks Investment Research raised Associated Banc-Corp from a hold rating to a buy rating and set a $28.00 target price on the stock in a report on Wednesday, June 21st. Morgan Stanley reissued an equal weight rating and set a $25.00 target price (up from $24.00) on shares of Associated Banc-Corp in a report on Thursday, July 6th. Royal Bank Of Canada reissued a hold rating and set a $26.00 target price on shares of Associated Banc-Corp in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $26.00 target price on shares of Associated Banc-Corp in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $25.00.
Associated Banc-Corp (NYSE:ASB) traded down 0.89% during trading on Friday, reaching $22.25. The company had a trading volume of 823,519 shares. The company has a market capitalization of $3.37 billion, a PE ratio of 16.01 and a beta of 1.16. The company has a 50 day moving average price of $24.25 and a 200 day moving average price of $24.71. Associated Banc-Corp has a 52-week low of $18.74 and a 52-week high of $26.70.
Associated Banc-Corp (NYSE:ASB) last posted its earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $266.23 million for the quarter, compared to analyst estimates of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same period in the previous year, the firm earned $0.31 EPS. On average, equities analysts forecast that Associated Banc-Corp will post $1.43 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Associated Banc-Corp (NYSE:ASB) Lowered to Strong Sell at BidaskClub” was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.com-unik.info/2017/08/13/associated-banc-corp-nyseasb-lowered-to-strong-sell-at-bidaskclub.html.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio is 34.53%.
In other Associated Banc-Corp news, insider John A. Utz sold 8,054 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.62, for a total value of $190,235.48. Following the transaction, the insider now directly owns 44,405 shares of the company’s stock, valued at approximately $1,048,846.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $23.61, for a total value of $236,100.00. Following the completion of the transaction, the chief executive officer now directly owns 127,585 shares in the company, valued at $3,012,281.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,772 shares of company stock worth $914,334. Insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its position in shares of Associated Banc-Corp by 61.0% in the first quarter. Acrospire Investment Management LLC now owns 4,830 shares of the bank’s stock worth $118,000 after buying an additional 1,830 shares in the last quarter. Morgan Dempsey Capital Management LLC raised its position in shares of Associated Banc-Corp by 40.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 5,542 shares of the bank’s stock worth $140,000 after buying an additional 1,597 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Associated Banc-Corp by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,931 shares of the bank’s stock worth $149,000 after buying an additional 549 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in shares of 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 worth $156,000 after buying an additional 30 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Associated Banc-Corp during the first quarter worth approximately $210,000. 78.54% of the stock is currently owned by hedge funds and other 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 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.
What are top analysts saying about Associated Banc-Corp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Associated Banc-Corp and related companies.