Associated Banc Corp (NYSE:ASB) – Equities research analysts at Jefferies Financial Group issued their Q1 2020 earnings estimates for shares of Associated Banc in a research note issued on Tuesday, April 30th, according to Zacks Investment Research. Jefferies Financial Group analyst C. Haire forecasts that the bank will post earnings per share of $0.52 for the quarter. Jefferies Financial Group also issued estimates for Associated Banc’s Q2 2020 earnings at $0.55 EPS, Q3 2020 earnings at $0.55 EPS and Q4 2020 earnings at $0.56 EPS.
A number of other analysts have also commented on the stock. Royal Bank of Canada reduced their price target on shares of Associated Banc to $24.00 and set a “sector perform” rating for the company in a research note on Friday, January 25th. Zacks Investment Research lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $24.89.
Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 25th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Associated Banc had a net margin of 22.56% and a return on equity of 9.87%. The business had revenue of $306.75 million during the quarter, compared to analysts’ expectations of $312.90 million. During the same period in the previous year, the company earned $0.40 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.17 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.10%. Associated Banc’s dividend payout ratio is presently 33.50%.
In related news, insider David L. Stein sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $22.36, for a total transaction of $134,160.00. Following the completion of the sale, the insider now directly owns 58,533 shares in the company, valued at $1,308,797.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.89, for a total transaction of $228,900.00. Following the sale, the chief executive officer now owns 218,996 shares of the company’s stock, valued at $5,012,818.44. The disclosure for this sale can be found here. Insiders sold 33,560 shares of company stock valued at $768,243 over the last quarter. Company insiders own 2.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlueMountain Capital Management LLC grew its position in Associated Banc by 132.9% during the first quarter. BlueMountain Capital Management LLC now owns 41,401 shares of the bank’s stock valued at $884,000 after buying an additional 23,625 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Associated Banc by 26.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,391,685 shares of the bank’s stock valued at $29,712,000 after purchasing an additional 288,658 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Associated Banc by 81.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,057 shares of the bank’s stock valued at $45,000 after purchasing an additional 925 shares in the last quarter. Morgan Stanley lifted its holdings in Associated Banc by 4.4% during the first quarter. Morgan Stanley now owns 105,695 shares of the bank’s stock valued at $2,258,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Man Group plc lifted its holdings in Associated Banc by 451.9% during the first quarter. Man Group plc now owns 224,781 shares of the bank’s stock valued at $4,799,000 after purchasing an additional 184,053 shares in the last quarter. Institutional investors own 75.59% of the company’s stock.
Associated Banc Company Profile
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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