Associated Banc Corp (NYSE:ASB) – Research analysts at Jefferies Financial Group boosted their FY2019 earnings estimates for shares of Associated Banc in a research report issued on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will earn $2.05 per share for the year, up from their previous forecast of $2.02.
Associated Banc (NYSE:ASB) last released its earnings results on Thursday, April 25th. The bank reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. Associated Banc had a return on equity of 9.87% and a net margin of 22.56%. The company had revenue of $306.75 million for the quarter, compared to the consensus estimate of $312.90 million. During the same quarter last year, the business posted $0.40 EPS.
NYSE:ASB opened at $20.96 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average price is $20.86. Associated Banc has a 52 week low of $18.53 and a 52 week high of $28.45. The company has a market cap of $3.42 billion, a P/E ratio of 10.33, a PEG ratio of 1.49 and a beta of 1.16.
Several institutional investors have recently made changes to their positions in ASB. Executive Wealth Management LLC acquired a new stake in Associated Banc in the 1st quarter valued at approximately $25,000. Fort L.P. acquired a new stake in Associated Banc in the 4th quarter valued at approximately $25,000. Nisa Investment Advisors LLC acquired a new stake in Associated Banc in the 2nd quarter valued at approximately $67,000. Actinver Wealth Management Inc. acquired a new stake in Associated Banc in the 4th quarter valued at approximately $244,000. Finally, Insight 2811 Inc. acquired a new stake in Associated Banc in the 4th quarter valued at approximately $198,000. Institutional investors and hedge funds own 73.30% of the company’s stock.
In other news, insider David L. Stein sold 5,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $23.12, for a total transaction of $115,600.00. Following the sale, the insider now directly owns 49,685 shares in the company, valued at approximately $1,148,717.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Flynn sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $22.89, for a total value of $228,900.00. Following the sale, the chief executive officer now owns 218,996 shares in the company, valued at $5,012,818.44. The disclosure for this sale can be found here. Insiders have sold a total of 20,060 shares of company stock worth $461,133 over the last quarter. Insiders own 2.69% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, May 31st. Associated Banc’s payout ratio is 33.50%.
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.
See Also: Systematic Risk
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