Equities research analysts expect Associated Banc Corp (NYSE:ASB) to announce earnings per share of $0.50 for the current quarter, Zacks reports. Seven analysts have made estimates for Associated Banc’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.48. Associated Banc also reported earnings per share of $0.50 in the same quarter last year. The business is expected to announce its next earnings results on Thursday, July 18th.
On average, analysts expect that Associated Banc will report full year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.10. For the next financial year, analysts forecast that the business will report earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.29. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Associated Banc.
Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, April 25th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $306.75 million for the quarter, compared to analysts’ expectations of $312.90 million. Associated Banc had a return on equity of 9.87% and a net margin of 22.56%. During the same quarter last year, the firm earned $0.40 EPS.
ASB has been the topic of several recent research reports. Royal Bank of Canada dropped their target price on Associated Banc to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, January 25th. Zacks Investment Research raised Associated Banc from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $24.89.
NYSE ASB traded down $0.13 during midday trading on Thursday, hitting $21.88. 1,070,355 shares of the company traded hands, compared to its average volume of 1,168,327. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $3.61 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12. Associated Banc has a 52 week low of $18.53 and a 52 week high of $29.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.11%. Associated Banc’s payout ratio is 33.50%.
In other news, insider John A. Utz sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $23.06, for a total value of $172,950.00. Following the completion of the sale, the insider now owns 61,466 shares of the company’s stock, valued at approximately $1,417,405.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $22.89, for a total value of $228,900.00. Following the completion of the sale, the chief executive officer now directly owns 218,996 shares of the company’s stock, valued at approximately $5,012,818.44. The disclosure for this sale can be found here. Insiders sold a total of 33,560 shares of company stock valued at $768,243 in the last three months. Insiders own 2.69% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Fort L.P. purchased a new position in Associated Banc in the 4th quarter worth $25,000. Executive Wealth Management LLC purchased a new position in Associated Banc in the 1st quarter worth $25,000. Pearl River Capital LLC purchased a new position in Associated Banc in the 4th quarter worth $43,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Associated Banc by 81.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,057 shares of the bank’s stock worth $45,000 after acquiring an additional 925 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Associated Banc by 1,937.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,354,645 shares of the bank’s stock worth $68,000 after acquiring an additional 1,288,143 shares during the last quarter. 75.59% of the stock is owned by hedge funds and other institutional investors.
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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