Wall Street analysts expect Associated Banc Corp (NYSE:ASB) to announce $0.47 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Associated Banc’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.44. Associated Banc reported earnings per share of $0.49 during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.1%. The company is expected to announce its next quarterly earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Associated Banc will report full-year earnings of $1.93 per share for the current fiscal year, with EPS estimates ranging from $1.88 to $2.01. For the next financial year, analysts forecast that the business will post earnings of $1.99 per share, with EPS estimates ranging from $1.90 to $2.05. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Associated Banc.
Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, July 25th. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. The firm had revenue of $309.46 million for the quarter, compared to analyst estimates of $315.84 million. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. During the same quarter in the prior year, the company posted $0.53 earnings per share.
Separately, Royal Bank of Canada set a $23.00 target price on Associated Banc and gave the company a “hold” rating in a report on Friday, July 26th. Three investment 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. Associated Banc currently has a consensus rating of “Hold” and an average target price of $24.78.
In other Associated Banc news, insider Christopher C. Piotrowski sold 10,726 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $21.37, for a total value of $229,214.62. Following the completion of the transaction, the insider now owns 40,276 shares in the company, valued at $860,698.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Moral-Niles Christopher Del sold 2,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $26.50, for a total transaction of $53,000.00. The disclosure for this sale can be found here. Insiders sold 16,698 shares of company stock valued at $362,767 in the last 90 days. 2.69% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Associated Banc by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,724,871 shares of the bank’s stock worth $212,245,000 after acquiring an additional 344,594 shares in the last quarter. Bank of America Corp DE boosted its holdings in Associated Banc by 6.4% in the fourth quarter. Bank of America Corp DE now owns 304,175 shares of the bank’s stock worth $6,019,000 after acquiring an additional 18,170 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Associated Banc by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,628,897 shares of the bank’s stock worth $32,235,000 after acquiring an additional 47,343 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Associated Banc by 19.1% in the first quarter. State of Alaska Department of Revenue now owns 31,839 shares of the bank’s stock worth $679,000 after acquiring an additional 5,106 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Associated Banc in the first quarter worth $242,000. Institutional investors and hedge funds own 74.46% of the company’s stock.
NYSE:ASB traded down $0.30 during trading hours on Thursday, hitting $19.21. The company’s stock had a trading volume of 12,105 shares, compared to its average volume of 1,289,110. The stock has a market capitalization of $3.13 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.25 and a beta of 1.17. The stock has a fifty day moving average of $20.63 and a 200-day moving average of $21.68. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.97. Associated Banc has a 52-week low of $18.53 and a 52-week high of $27.95.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.17 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.68 annualized dividend and a yield of 3.54%. Associated Banc’s dividend payout ratio is presently 33.50%.
About Associated Banc
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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