Jefferies Financial Group Analysts Lower Earnings Estimates for Associated Banc-Corp (NYSE:ASB)


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Associated Banc-Corp (NYSE:ASB) – Equities researchers at Jefferies Financial Group decreased their FY2022 EPS estimates for shares of Associated Banc in a research report issued to clients and investors on Friday, April 9th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will post earnings of $1.69 per share for the year, down from their previous estimate of $1.70.

Several other research firms have also recently issued reports on ASB. TheStreet upgraded shares of Associated Banc from a “c+” rating to a “b” rating in a research note on Monday, February 22nd. Zacks Investment Research cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research note on Tuesday, March 9th. Finally, Bank of America boosted their target price on shares of Associated Banc from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, January 22nd. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Associated Banc has a consensus rating of “Hold” and an average price target of $16.75.

Shares of NYSE ASB opened at $21.35 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Associated Banc has a 12 month low of $11.13 and a 12 month high of $23.94. The company has a 50 day simple moving average of $21.69 and a two-hundred day simple moving average of $17.75. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 2.05 and a beta of 1.23.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Wednesday, January 20th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.31 by $0.09. Associated Banc had a net margin of 20.66% and a return on equity of 5.68%. The business had revenue of $273.71 million during the quarter, compared to analysts’ expectations of $270.82 million.

Several institutional investors and hedge funds have recently made changes to their positions in ASB. International Assets Investment Management LLC purchased a new stake in shares of Associated Banc in the fourth quarter valued at about $29,000. Toronto Dominion Bank purchased a new stake in shares of Associated Banc in the fourth quarter valued at about $113,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Associated Banc in the fourth quarter valued at about $125,000. Mercer Global Advisors Inc. ADV acquired a new position in Associated Banc in the third quarter valued at about $147,000. Finally, Squarepoint Ops LLC acquired a new position in Associated Banc in the third quarter valued at about $165,000. 72.49% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Moral-Niles Christopher Del sold 10,000 shares of the company’s stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $22.78, for a total value of $227,800.00. Following the completion of the sale, the chief financial officer now owns 75,402 shares of the company’s stock, valued at $1,717,657.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip B. Flynn sold 139,747 shares of the company’s stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $20.07, for a total transaction of $2,804,722.29. Insiders have sold 155,597 shares of company stock valued at $3,145,126 in the last ninety days. Insiders own 2.38% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Friday, February 26th. Associated Banc’s payout ratio is 36.55%.

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. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.

See Also: Special Purpose Acquisition Company (SPAC)

Earnings History and Estimates for Associated Banc (NYSE:ASB)

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