Associated Banc (NYSE:ASB) Announces Earnings Results

Associated Banc (NYSE:ASB) posted its quarterly earnings data on Thursday. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03, Briefing.com reports. Associated Banc had a net margin of 6.86% and a return on equity of 8.33%. The company had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis.

Associated Banc Stock Up 0.9 %

Shares of Associated Banc stock opened at $21.57 on Friday. The stock has a market capitalization of $3.25 billion, a P/E ratio of 21.79, a PEG ratio of 1.26 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $20.79 and a two-hundred day moving average price of $19.75. Associated Banc has a 12-month low of $14.47 and a 12-month high of $22.16.

Associated Banc Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a yield of 4.08%. Associated Banc’s payout ratio is currently 88.89%.

Insiders Place Their Bets

In related news, Director John B. Williams sold 2,700 shares of the firm’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 completion of the transaction, the director now directly owns 62,876 shares of the company’s stock, valued at $1,229,225.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP John A. Utz sold 14,010 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the transaction, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at $1,905,456. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Williams sold 2,700 shares of the firm’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 completion of the transaction, the director now directly 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 sold 21,710 shares of company stock valued at $454,897 over the last 90 days. 1.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler upped their price objective on shares of Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Barclays upped their target price on Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a report on Tuesday, April 9th. Stephens reiterated an “equal weight” rating and issued a $23.00 target price on shares of Associated Banc in a report on Friday. Finally, Raymond James upped their target price on Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Associated Banc has a consensus rating of “Hold” and a consensus target price of $23.13.

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.