The equity analysts working for StockNews.com began providing coverage of Associated Banc in a research report made available for public consumption on Thursday (NYSE: ASB).
The company is encouraged to “hold” onto the financial institution’s stock as part of its investment strategy.
The most recent earnings report for Associated Banc, traded on the New York Stock Exchange under the ticker symbol “ASB,” was made public on January 26.
The bank’s quarterly profits per share came in at $0.70, which was $0.05 higher than the average prediction of $0.65, which was at $0.65.
The average prediction had been $0.65.
It was significantly higher than the average prediction of $347.92 million, as the actual revenue for the quarter was $452.94 million.
Associated Banc had a return on equity of 9.70% and a net margin of 25.65% for the company overall.
The corporation reported a profit of $0.49 per share for the same period in the prior year’s financial statements. Sell-side analysts anticipate that Associated Banc will achieve $2.47 per share profits for the current fiscal year.
Thursday marked the first day of trading for ASB stock for $19.19.
The trading day began.
The company’s market capitalization is estimated to be worth $2.89 billion.
At the same time, its price-to-earnings ratio currently sits at 8.17, its price-to-earnings-to-growth ratio currently sits at 1.03, and its beta currently sits at 1.01.
The company’s price has a moving average of $22.86 over the last fifty days and a moving average of $22.54 over the last two hundred days.
The stock of Allied Banc hit a 52-week low of $17.45, while it reached a 52-week high of $25.50 during the same period.
The debt-to-equity ratio is calculated to be 1.20, the quick ratio is calculated to be 0.95, and the current ratio is also calculated to be 0.95.
Additionally, the beginning of coverage of Associated Bank by UBS Group was announced on Wednesday in the form of a research note written and published by the firm.
They rated the stock as “neutral” and decided that a price target of $22.00 was appropriate. One of the research analysts covering the company has recommended purchasing the stock, while the other four analysts think investors should maintain their current holdings of the company’s shares.
The stock is currently rated “Hold” on average, and analysts have established a consensus price goal of $23.50 for it, according to data provided by Bloomberg.
Another thing that happened in the company’s business was that on February 15, Director Lith Karen Van sold 4,889 shares of the company’s stock.
This was another development.
The total amount paid to buy and sell the stock was $116,993.77, an average price of $23.93 per share. Following the completion of the sale, the director now has a direct ownership interest in 58,677 shares of the company’s stock, which have a combined value of $1,404,140.61.
If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately.
The Chief Executive Officer of Associated Banc, Andrew J. Harmening, purchased 4,850 shares of the company’s stock on March 9, which brings us to another piece of information about the financial institution.
The price paid for each share was, on average, $20.57, which brings the total amount spent on the acquisition to $99,764.50.
The chief executive officer now has direct control over 287,394 company shares as a direct result of the acquisition, and these shares have an approximate value of $5,911,694.58. You might find a filing that explains the transaction in greater detail on the Securities and Exchange Commission (SEC) website. On Wednesday, February 15, another director, Lith Karen Van, sold 4,889 shares of the company’s stock. Her business transaction was successful.
The total amount paid to buy and sell the stock was $116,993.77, an average price of $23.93 per share. Following the conclusion of the transaction, the director now directly owns 58,677 shares of the company.
Based on the current stock price, these shares are estimated to be worth approximately $1,404,140.61.
Disclosures related to the sale might be found in this website section.
The company’s insiders own the shares of stock to the extent of 3.04%.
Hedge funds have been active in stock transactions involving the company, buying and selling shares.
During the third quarter, BlackRock INC increased the amount of Associated Banc stock owned by 2.9%, bringing its total ownership percentage to 100%.
BlackRock INC now owns 18,660,033 shares of the bank’s stock, currently valued at $374,694,000, after purchasing an additional 523,996 shares during the period in question. Vanguard Group INC increased the amount of Associated Banc stock owned by 2.2% during the third quarter. Vanguard Group INC now has 15,302,572 shares of the bank’s stock following the acquisition of 328,137 during the most recent fiscal quarter.
The total value of these shares is currently estimated to be $307,277,000.
During the last three months of 2018, Dimensional Fund Advisors L.P.
Added 2.5% more shares of Associated Bank to its portfolio, increasing the percentage of the bank’s stock that it owned.
After purchasing an additional 268,163 shares during the relevant period, Dimensional Fund Advisors L.P. now has 10,842,604 shares of the bank’s stock, currently valued at $250,357,000.
During the relevant period, these shares were acquired.
During the second quarter, FMR LLC made an 18.9% increase in the amount of Associated Bank stock it owned.
During the period under review, FMR LLC increased its holdings in the company’s stock by purchasing an additional 1,550,652 shares.
This brought the company’s total number of shares to 9,742,941, valued at $177,906,000.
And finally, during the final three months of the year, AllianceBernstein L.P.
Added 5.3% more Associated Bank shares to the proportion of the bank’s total assets that it owned.
Alliancebernstein L.P. now owns 2,800,625 shares of the bank’s stock, currently valued at $64,666,000, after purchasing an additional 141,801 shares during the most recent period.
This brings the total number of shares owned by Alliancebernstein L.P.
To 2,800,625.
Most of the company’s shares, or 78.95%, are owned by institutional investors and hedge funds.