Brokerages forecast that Associated Banc-Corp (NYSE:ASB – Get Rating) will announce earnings of $0.37 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Associated Banc’s earnings, with estimates ranging from $0.33 to $0.40. Associated Banc posted earnings per share of $0.58 in the same quarter last year, which would suggest a negative year over year growth rate of 36.2%. The company is expected to announce its next quarterly earnings report on Thursday, April 28th.
On average, analysts expect that Associated Banc will report full year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $1.66 to $1.80. For the next year, analysts expect that the firm will report earnings of $2.12 per share, with EPS estimates ranging from $2.02 to $2.25. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Associated Banc.
Associated Banc (NYSE:ASB – Get Rating) last posted its quarterly earnings results on Thursday, January 20th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.07. The business had revenue of $272.70 million for the quarter, compared to analyst estimates of $263.68 million. Associated Banc had a return on equity of 9.22% and a net margin of 31.05%. During the same period in the prior year, the company posted $0.40 EPS.
Separately, Bank of America reaffirmed an “underperform” rating and issued a $23.00 target price on shares of Associated Banc in a research report on Tuesday, January 18th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Associated Banc currently has a consensus rating of “Hold” and a consensus target price of $23.60.
In other news, EVP Matthew R. Braeger sold 10,994 shares of the stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $25.47, for a total value of $280,017.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction on Friday, February 4th. The stock was sold at an average price of $24.75, for a total value of $49,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 23,345 shares of company stock valued at $570,793. Company insiders own 3.25% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Associated Banc by 2.2% during the fourth quarter. BlackRock Inc. now owns 17,540,484 shares of the bank’s stock valued at $396,237,000 after buying an additional 375,548 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Associated Banc by 0.6% during the fourth quarter. Pzena Investment Management LLC now owns 3,498,138 shares of the bank’s stock valued at $79,023,000 after buying an additional 20,871 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Associated Banc by 160.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,913,446 shares of the bank’s stock valued at $65,815,000 after purchasing an additional 1,796,682 shares during the period. Associated Banc Corp boosted its position in shares of Associated Banc by 2.4% in the 3rd quarter. Associated Banc Corp now owns 2,690,649 shares of the bank’s stock valued at $57,634,000 after purchasing an additional 64,230 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Associated Banc in the 4th quarter valued at $53,255,000. 77.86% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE ASB opened at $23.44 on Thursday. Associated Banc has a 1-year low of $18.40 and a 1-year high of $25.78. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.86 and a quick ratio of 0.86. The business’s fifty day moving average price is $24.44 and its two-hundred day moving average price is $22.81. The firm has a market capitalization of $3.51 billion, a PE ratio of 10.70, a P/E/G ratio of 1.78 and a beta of 1.05.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st will be paid a $0.20 dividend. The ex-dividend date is Monday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.41%. Associated Banc’s payout ratio is 36.53%.
About Associated Banc (Get Rating)
Associated Banc-Corp. operates as a bank holding company, which offers various banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty, Community, Consumer and Business, and Risk Management and Shared Services.
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