Shares of Associated Banc-Corp (NYSE:ASB) have been given an average rating of “Hold” by the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $24.78.
A number of research firms recently issued reports on ASB. BidaskClub upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 21st. DA Davidson raised Associated Banc-Corp from an “underperform” rating to a “neutral” rating and set a $21.00 target price on the stock in a research note on Wednesday, September 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $25.00 target price (up previously from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Finally, Zacks Investment Research raised Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd.
In other news, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.61, for a total transaction of $236,100.00. Following the sale, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at $3,012,281.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John A. Utz sold 8,054 shares of the business’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 sale, the insider now directly owns 44,405 shares in the company, valued at $1,048,846.10. The disclosure for this sale can be found here. Insiders have sold 38,772 shares of company stock worth $914,334 over the last ninety days. 1.80% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Associated Banc-Corp by 2.0% during the second quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock worth $321,025,000 after purchasing an additional 248,381 shares during the period. State Street Corp raised its position in shares of Associated Banc-Corp by 2.0% during the second quarter. State Street Corp now owns 6,922,074 shares of the bank’s stock worth $174,433,000 after purchasing an additional 136,874 shares during the period. Alliancebernstein L.P. raised its position in shares of Associated Banc-Corp by 4.0% during the second quarter. Alliancebernstein L.P. now owns 4,193,941 shares of the bank’s stock worth $105,687,000 after purchasing an additional 163,081 shares during the period. Cramer Rosenthal Mcglynn LLC raised its position in shares of Associated Banc-Corp by 1.6% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 2,265,086 shares of the bank’s stock worth $57,080,000 after purchasing an additional 35,960 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Associated Banc-Corp by 2.2% during the second quarter. Wells Fargo & Company MN now owns 1,840,826 shares of the bank’s stock worth $46,389,000 after purchasing an additional 38,996 shares during the period. 77.47% of the stock is currently owned by institutional investors.
Associated Banc-Corp (NYSE:ASB) traded down 0.41% during midday trading on Wednesday, hitting $24.40. The stock had a trading volume of 1,185,787 shares. The stock has a 50-day moving average price of $22.82 and a 200 day moving average price of $23.94. The firm has a market cap of $3.70 billion, a PE ratio of 17.55 and a beta of 1.20. Associated Banc-Corp has a one year low of $18.85 and a one year high of $26.70.
Associated Banc-Corp (NYSE:ASB) last released 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 business had revenue of $266.23 million during the quarter, compared to analyst estimates of $273.29 million. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, analysts predict that Associated Banc-Corp will post $1.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio is presently 34.53%.
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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