Wall Street brokerages expect Associated Banc Corp (NYSE:ASB) to report earnings per share of $0.43 for the current quarter, according to Zacks. Four analysts have issued estimates for Associated Banc’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.39. Associated Banc reported earnings per share of $0.50 in the same quarter last year, which would suggest a negative year over year growth rate of 14%. The company is scheduled to issue its next earnings report on Thursday, January 23rd.
On average, analysts expect that Associated Banc will report full year earnings of $1.92 per share for the current financial year, with EPS estimates ranging from $1.88 to $1.96. For the next financial year, analysts expect that the firm will report earnings of $1.82 per share, with EPS estimates ranging from $1.75 to $1.95. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Associated Banc.
Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. Associated Banc had a return on equity of 9.71% and a net margin of 21.73%. The company had revenue of $307.00 million for the quarter, compared to the consensus estimate of $312.55 million. During the same period in the previous year, the business posted $0.48 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis.
Several analysts have recently weighed in on the company. SunTrust Banks set a $22.00 price objective on Associated Banc and gave the stock a “hold” rating in a report on Monday, September 9th. Bank of America set a $19.00 price objective on Associated Banc and gave the stock a “sell” rating in a report on Friday, October 25th. ValuEngine lowered Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Zacks Investment Research raised Associated Banc from a “strong sell” rating to a “hold” rating and set a $17.00 price objective on the stock in a report on Tuesday, October 29th. Finally, Royal Bank of Canada set a $23.00 price objective on Associated Banc and gave the stock a “hold” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.00.
Shares of NYSE:ASB traded up $0.17 during trading on Thursday, hitting $21.60. 954,861 shares of the stock were exchanged, compared to its average volume of 1,200,195. Associated Banc has a 1-year low of $18.52 and a 1-year high of $23.83. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19. The company’s fifty day simple moving average is $20.43 and its 200-day simple moving average is $20.65. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.93 and a current ratio of 0.94.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.18 dividend. This is a positive change from Associated Banc’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 3.33%. Associated Banc’s payout ratio is currently 33.50%.
In related news, EVP John A. Utz sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $20.04, for a total value of $60,120.00. Following the sale, the executive vice president now owns 59,348 shares of the company’s stock, valued at approximately $1,189,333.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David L. Stein sold 20,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $21.79, for a total value of $435,800.00. Following the completion of the sale, the executive vice president now directly owns 69,835 shares in the company, valued at approximately $1,521,704.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,481 shares of company stock worth $957,106. 2.69% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in Associated Banc by 8.1% in the second quarter. Wells Fargo & Company MN now owns 2,489,109 shares of the bank’s stock worth $52,620,000 after purchasing an additional 187,513 shares in the last quarter. LSV Asset Management boosted its stake in Associated Banc by 20.6% in the second quarter. LSV Asset Management now owns 2,221,064 shares of the bank’s stock worth $46,953,000 after purchasing an additional 379,450 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Associated Banc by 1.2% in the second quarter. Pzena Investment Management LLC now owns 2,133,134 shares of the bank’s stock worth $45,094,000 after purchasing an additional 24,292 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in Associated Banc by 167.4% in the second quarter. Balyasny Asset Management LLC now owns 1,840,627 shares of the bank’s stock worth $38,911,000 after purchasing an additional 1,152,212 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in Associated Banc in the second quarter worth $35,221,000. 74.93% of the stock is currently owned by institutional investors and hedge funds.
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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