Associated Banc Corp (NYSE:ASB) – Research analysts at Jefferies Group lifted their FY2018 earnings per share (EPS) estimates for shares of Associated Banc in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings per share of $1.76 for the year, up from their prior estimate of $1.67. Jefferies Group has a “Hold” rating and a $28.00 price target on the stock. Jefferies Group also issued estimates for Associated Banc’s FY2019 earnings at $1.94 EPS.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. Associated Banc had a net margin of 19.54% and a return on equity of 7.81%. The company had revenue of $276.02 million during the quarter, compared to analysts’ expectations of $276.88 million. During the same quarter in the previous year, the business posted $0.31 EPS.

Other analysts also recently issued research reports about the stock. Barclays boosted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. SunTrust Banks reiterated a “hold” rating and issued a $24.00 price target on shares of Associated Banc in a research report on Thursday, October 12th. Piper Jaffray Companies reiterated a “hold” rating and issued a $27.00 price target on shares of Associated Banc in a research report on Tuesday. Zacks Investment Research upgraded shares of Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of Associated Banc in a research report on Friday, September 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $26.60.

Shares of Associated Banc (ASB) traded up $0.25 during trading hours on Tuesday, hitting $26.55. 523,400 shares of the stock traded hands, compared to its average volume of 884,524. The stock has a market cap of $4,010.00, a P/E ratio of 18.31, a PEG ratio of 2.26 and a beta of 1.19. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.03. Associated Banc has a twelve month low of $20.95 and a twelve month high of $26.70.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.3828 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a yield of 5.77%. Associated Banc’s payout ratio is 38.62%.

In related news, CFO Moral-Niles Christopher Del sold 1,476 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 81,784 shares in the company, valued at $2,126,384. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William M. Bohn sold 15,946 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $26.00, for a total transaction of $414,596.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,426 shares of company stock worth $1,558,805. 1.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 during the third quarter worth approximately $157,000. Meeder Asset Management Inc. grew its position in shares of Associated Banc by 393.4% during the third quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock worth $178,000 after buying an additional 5,838 shares in the last quarter. Flinton Capital Management LLC grew its position in shares of Associated Banc by 73.4% during the second quarter. Flinton Capital Management LLC now owns 7,936 shares of the bank’s stock worth $200,000 after buying an additional 3,360 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its position in shares of Associated Banc by 73.6% during the second quarter. Riverhead Capital Management LLC now owns 8,854 shares of the bank’s stock worth $223,000 after buying an additional 3,754 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

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Associated Banc 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 (NYSE:ASB)

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