Associated Banc-Corp (NYSE:ASB) issued its quarterly earnings data on Thursday. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05, Bloomberg Earnings reports. Associated Banc-Corp had a net margin of 19.54% and a return on equity of 7.85%. The company had revenue of $276.02 million during the quarter, compared to the consensus estimate of $276.88 million. During the same quarter last year, the company earned $0.31 earnings per share.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 25.90 on Friday. Associated Banc-Corp has a 52-week low of $19.45 and a 52-week high of $26.70. The firm has a market cap of $3.93 billion, a P/E ratio of 18.63 and a beta of 1.20. The stock’s 50 day moving average is $23.59 and its 200-day moving average is $24.00.
Several brokerages have issued reports on ASB. Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of Associated Banc-Corp in a research report on Friday, September 22nd. BidaskClub downgraded shares of Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 30th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Associated Banc-Corp in a research report on Friday, July 7th. Piper Jaffray Companies set a $25.00 price objective on shares of Associated Banc-Corp and gave the company a “hold” rating in a research report on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $25.20.
In other Associated Banc-Corp news, insider Christopher C. Piotrowski sold 16,218 shares of Associated Banc-Corp stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the transaction, the insider now directly owns 30,479 shares of the company’s stock, valued at approximately $717,780.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Philip B. Flynn sold 10,000 shares of Associated Banc-Corp stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $23.61, for a total value of $236,100.00. Following the completion of the transaction, the chief executive officer now directly owns 127,585 shares in the company, valued at $3,012,281.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,772 shares of company stock worth $914,334. Company insiders own 1.80% of the company’s stock.
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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