Equities analysts expect Associated Banc Corp (NYSE:ASB) to report earnings of $0.17 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Associated Banc’s earnings. The lowest EPS estimate is ($0.12) and the highest is $0.33. Associated Banc posted earnings per share of $0.50 during the same quarter last year, which would suggest a negative year over year growth rate of 66%. The company is expected to issue its next earnings results on Thursday, October 22nd.
On average, analysts expect that Associated Banc will report full-year earnings of $1.44 per share for the current year, with EPS estimates ranging from $0.70 to $1.79. For the next year, analysts expect that the business will post earnings of $0.80 per share, with EPS estimates ranging from $0.27 to $1.23. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Associated Banc.
Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, July 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.26. The firm had revenue of $448.34 million during the quarter, compared to the consensus estimate of $323.82 million. Associated Banc had a net margin of 21.70% and a return on equity of 6.88%.
ASB has been the subject of a number of recent analyst reports. SunTrust Banks upped their price objective on Associated Banc from $14.00 to $15.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. Jefferies Financial Group cut Associated Banc from a “buy” rating to a “hold” rating and reduced their price target for the company from $15.00 to $13.00 in a research report on Thursday, July 9th. ValuEngine raised Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Cfra dropped their price objective on Associated Banc from $22.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Associated Banc has a consensus rating of “Hold” and a consensus price target of $17.13.
NYSE ASB traded up $0.38 during trading hours on Friday, hitting $13.98. The company had a trading volume of 1,106,015 shares, compared to its average volume of 1,037,433. The firm has a market cap of $2.15 billion, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. Associated Banc has a fifty-two week low of $10.23 and a fifty-two week high of $22.60. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $13.50 and a 200-day simple moving average of $13.95.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.18 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.15%. Associated Banc’s payout ratio is presently 36.55%.
In other Associated Banc news, CFO Moral-Niles Christopher Del bought 2,000 shares of the stock in a transaction on Monday, August 3rd. The shares were acquired at an average price of $12.98 per share, with a total value of $25,960.00. Following the acquisition, the chief financial officer now directly owns 58,850 shares of the company’s stock, valued at approximately $763,873. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased a total of 5,000 shares of company stock worth $100,960 in the last ninety days. 2.38% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. purchased a new stake in shares of Associated Banc during the first quarter worth about $165,000. American International Group Inc. boosted its stake in shares of Associated Banc by 1.0% during the 1st quarter. American International Group Inc. now owns 310,655 shares of the bank’s stock worth $3,973,000 after acquiring an additional 3,098 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Associated Banc by 233.3% during the 1st quarter. Aperio Group LLC now owns 195,197 shares of the bank’s stock worth $2,497,000 after acquiring an additional 136,637 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Associated Banc during the 1st quarter valued at $595,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of Associated Banc during the 1st quarter valued at $619,000. Institutional investors own 71.81% of the company’s stock.
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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