Associated Banc (ASB) to Release Quarterly Earnings on Thursday

Associated Banc (NYSE:ASB) will post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Associated Banc to post earnings of $0.50 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The firm had revenue of $322.22 million during the quarter, compared to analyst estimates of $325.89 million. On average, analysts expect Associated Banc to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Associated Banc Price Performance

ASB stock opened at $21.25 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $20.72 and its two-hundred day moving average price is $19.69. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 1.21 and a beta of 1.00. Associated Banc has a 12-month low of $14.47 and a 12-month high of $22.16.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Thursday, February 29th. Associated Banc’s payout ratio is 77.88%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ASB shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. Wells Fargo & Company lifted their target price on shares of Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Barclays initiated coverage on shares of Associated Banc in a report on Friday, March 8th. They issued an “equal weight” rating and a $22.00 price objective for the company. Piper Sandler increased their price objective on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, Raymond James lifted their price target on shares of Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Associated Banc presently has an average rating of “Hold” and an average price target of $22.63.

Insiders Place Their Bets

In related news, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the sale, the director now directly owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total transaction of $105,100.00. Following the sale, the director now owns 50,126 shares of the company’s stock, valued at approximately $1,053,648.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Williams sold 2,700 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value of $52,785.00. Following the sale, the director now owns 62,876 shares of the company’s stock, valued at $1,229,225.80. The disclosure for this sale can be found here. Insiders have sold 21,710 shares of company stock valued at $454,897 over the last ninety days. 1.45% of the stock is owned by insiders.

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. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.