Equities research analysts expect Associated Banc Corp (NYSE:ASB) to post earnings per share (EPS) of $0.50 for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Associated Banc’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.52. Associated Banc also posted earnings of $0.50 per share in the same quarter last year. The business is expected to report its next quarterly earnings results on Thursday, July 18th.
On average, analysts expect that Associated Banc will report full-year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.10. For the next fiscal year, analysts forecast that the firm will post earnings of $2.11 per share, with EPS estimates ranging from $2.00 to $2.29. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Associated Banc.
Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Associated Banc had a return on equity of 9.87% and a net margin of 22.56%. The company had revenue of $306.75 million for the quarter, compared to the consensus estimate of $312.90 million. During the same quarter in the previous year, the business earned $0.40 EPS.
Separately, Zacks Investment Research cut Associated Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $24.89.
Shares of ASB traded down $0.07 during mid-day trading on Friday, reaching $20.96. The company had a trading volume of 511,876 shares, compared to its average volume of 1,137,730. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.05. Associated Banc has a 52 week low of $18.53 and a 52 week high of $28.60. The stock has a market cap of $3.46 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.49 and a beta of 1.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors 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 annualized dividend and a yield of 3.24%. Associated Banc’s dividend payout ratio (DPR) is presently 33.50%.
In related news, Director Lith Karen Van sold 5,060 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $23.05, for a total value of $116,633.00. Following the transaction, the director now directly owns 45,991 shares of the company’s stock, valued at approximately $1,060,092.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David L. Stein sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $23.12, for a total value of $115,600.00. Following the completion of the transaction, the insider now directly owns 49,685 shares in the company, valued at $1,148,717.20. The disclosure for this sale can be found here. Insiders sold a total of 20,060 shares of company stock worth $461,133 over the last ninety days. 2.69% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC raised its stake in Associated Banc by 0.6% during the 1st quarter. Mason Street Advisors LLC now owns 87,391 shares of the bank’s stock valued at $1,866,000 after buying an additional 554 shares during the last quarter. Boston Advisors LLC raised its stake in Associated Banc by 1.3% during the 1st quarter. Boston Advisors LLC now owns 42,331 shares of the bank’s stock valued at $904,000 after buying an additional 560 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Associated Banc by 81.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,057 shares of the bank’s stock valued at $45,000 after buying an additional 925 shares during the last quarter. Cubic Asset Management LLC raised its stake in Associated Banc by 4.5% during the 1st quarter. Cubic Asset Management LLC now owns 24,845 shares of the bank’s stock valued at $530,000 after buying an additional 1,060 shares during the last quarter. Finally, Keeley Teton Advisors LLC raised its stake in Associated Banc by 1.2% during the 4th quarter. Keeley Teton Advisors LLC now owns 98,063 shares of the bank’s stock valued at $1,941,000 after buying an additional 1,134 shares during the last quarter. 73.32% of the stock is currently owned by institutional investors and hedge funds.
About Associated Banc
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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