Associated Banc (NYSE:ASB) Releases Earnings Results

Associated Banc (NYSE:ASB) issued its quarterly earnings data on Thursday. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06, Briefing.com reports. The firm had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. During the same period in the prior year, the firm posted $0.53 earnings per share.

Associated Banc Stock Up 2.2 %

Shares of NYSE ASB traded up $0.49 on Friday, reaching $23.17. 602,085 shares of the company’s stock traded hands, compared to its average volume of 1,328,574. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. The business’s 50 day simple moving average is $21.76 and its two-hundred day simple moving average is $21.45. Associated Banc has a 12 month low of $15.59 and a 12 month high of $24.21. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

Wall Street Analysts Forecast Growth

ASB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Piper Sandler upped their target price on Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Jefferies Financial Group dropped their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Barclays raised their target price on shares of Associated Banc from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc has a consensus rating of “Hold” and a consensus price target of $23.78.

Insider Transactions at Associated Banc

In other news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the sale, the executive vice president now directly owns 99,637 shares in the company, valued at $2,269,730.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,835 shares of company stock valued at $757,214. Insiders own 1.45% of the company’s stock.

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 offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.