Associated Banc (ASB) Scheduled to Post Quarterly Earnings on Thursday

Posted by Stephan Jacobs on Jan 24th, 2023

Associated Banc (NYSE:ASB – Get Rating) is set to issue its quarterly earnings data after the market closes on Thursday, January 26th. Analysts expect the company to announce earnings of $0.65 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Associated Banc Stock Performance

NYSE:ASB traded down $0.39 during trading hours on Tuesday, reaching $22.25. The stock had a trading volume of 1,066,014 shares, compared to its average volume of 1,311,008. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day simple moving average of $23.17 and a 200 day simple moving average of $21.87. Associated Banc has a 12-month low of $17.45 and a 12-month high of $25.78. The stock has a market cap of $3.35 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Insider Activity

In other news, EVP David L. Stein sold 12,000 shares of Associated Banc stock in a transaction on Monday, November 7th. The stock was sold at an average price of $24.32, for a total value of $291,840.00. Following the completion of the transaction, the executive vice president now directly owns 70,485 shares in the company, valued at $1,714,195.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Tammy C. Stadler sold 10,941 shares of Associated Banc stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $24.68, for a total transaction of $270,023.88. Following the completion of the sale, the insider now owns 57,510 shares of the company’s stock, valued at $1,419,346.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David L. Stein sold 12,000 shares of Associated Banc stock in a transaction on Monday, November 7th. The shares were sold at an average price of $24.32, for a total value of $291,840.00. Following the sale, the executive vice president now directly owns 70,485 shares of the company’s stock, valued at approximately $1,714,195.20. The disclosure for this sale can be found here. 3.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its stake in Associated Banc by 2.4% during the second quarter. Bank of Montreal Can now owns 22,085 shares of the bank’s stock valued at $420,000 after buying an additional 513 shares during the period. Quantbot Technologies LP bought a new stake in Associated Banc during the first quarter worth about $356,000. Cambridge Investment Research Advisors Inc. lifted its stake in Associated Banc by 62.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,246 shares of the bank’s stock worth $347,000 after purchasing an additional 5,846 shares during the last quarter. Quantedge Capital Pte Ltd bought a new stake in Associated Banc during the first quarter worth about $346,000. Finally, Engineers Gate Manager LP bought a new stake in Associated Banc during the first quarter worth about $333,000. Institutional investors own 78.95% of the company’s stock.

Analyst Upgrades and Downgrades

ASB has been the subject of a number of recent research reports. StockNews.com initiated coverage on Associated Banc in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America upgraded Associated Banc from an “underperform” rating to a “neutral” rating and set a $24.00 price target for the company in a research report on Tuesday, October 25th.

Associated Banc Company Profile

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Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.