Shares of Associated Banc Corp (NYSE:ASB) have received a consensus recommendation of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $17.13.
Several research firms have weighed in on ASB. ValuEngine raised Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, August 6th. Jefferies Financial Group cut Associated Banc from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $13.00 in a research report on Thursday, July 9th. SunTrust Banks boosted their price target on Associated Banc from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Finally, Cfra dropped their price target on Associated Banc from $22.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, May 15th.
Associated Banc stock traded up $0.38 during trading hours on Tuesday, hitting $13.98. 1,106,015 shares of the stock traded hands, compared to its average volume of 1,037,433. The firm’s 50-day moving average price is $13.50 and its two-hundred day moving average price is $13.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.87. The company has a market cap of $2.15 billion, a PE ratio of 6.56, a PEG ratio of 2.11 and a beta of 1.24. Associated Banc has a one year low of $10.23 and a one year high of $22.60.
Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $448.34 million for the quarter, compared to analysts’ expectations of $323.82 million. Associated Banc had a return on equity of 6.88% and a net margin of 21.70%. On average, sell-side analysts expect that Associated Banc will post 0.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.18 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 5.15%. Associated Banc’s payout ratio is currently 36.55%.
In other news, CFO Moral-Niles Christopher Del acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was bought at an average cost of $12.98 per share, for a total transaction of $25,960.00. Following the acquisition, the chief financial officer now directly owns 58,850 shares in the company, valued at $763,873. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 5,000 shares of company stock valued at $100,960. 2.38% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. raised its stake in Associated Banc by 247.5% during the 1st quarter. Meeder Asset Management Inc. now owns 3,270 shares of the bank’s stock valued at $42,000 after buying an additional 2,329 shares during the last quarter. Johnson Financial Group Inc. raised its stake in Associated Banc by 48.2% during the 1st quarter. Johnson Financial Group Inc. now owns 3,458 shares of the bank’s stock valued at $44,000 after buying an additional 1,125 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in Associated Banc during the 2nd quarter valued at $65,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Associated Banc during the 2nd quarter valued at $67,000. Finally, Virtu Financial LLC purchased a new stake in shares of Associated Banc in the 2nd quarter worth $159,000. Institutional investors and hedge funds own 71.81% of the company’s stock.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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