Analysts expect Associated Banc-Corp (NYSE:ASB) to announce earnings of $0.36 per share for the current quarter, Zacks reports. Six analysts have provided estimates for Associated Banc-Corp’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.37. Associated Banc-Corp posted earnings of $0.34 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The business is scheduled to report its next earnings results after the market closes on Thursday, October 19th.
According to Zacks, analysts expect that Associated Banc-Corp will report full year earnings of $1.43 per share for the current financial year, with EPS estimates ranging from $1.37 to $1.45. For the next financial year, analysts forecast that the firm will report earnings of $1.55 per share, with EPS estimates ranging from $1.50 to $1.60. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Associated Banc-Corp.
Associated Banc-Corp (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Associated Banc-Corp had a net margin of 18.78% and a return on equity of 7.43%. During the same quarter in the previous year, the business posted $0.31 EPS.
A number of equities research analysts have issued reports on ASB shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $25.00 target price (up previously from $24.00) on shares of Associated Banc-Corp in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc-Corp in a research report on Friday, August 11th. Zacks Investment Research raised Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Piper Jaffray Companies set a $25.00 target price on Associated Banc-Corp and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.20.
In other news, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $23.61, for a total transaction of $236,100.00. Following the completion of the transaction, the chief executive officer now directly owns 127,585 shares in the company, valued at $3,012,281.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher C. Piotrowski sold 16,218 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $23.55, for a total value of $381,933.90. Following the transaction, the insider now owns 30,479 shares of the company’s stock, valued at $717,780.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,772 shares of company stock valued at $914,334. Corporate insiders own 1.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Associated Banc-Corp by 47.2% in the second quarter. BNP Paribas Arbitrage SA now owns 57,517 shares of the bank’s stock valued at $1,449,000 after purchasing an additional 18,435 shares in the last quarter. Alpha Windward LLC raised its stake in shares of Associated Banc-Corp by 1.6% in the second quarter. Alpha Windward LLC now owns 18,540 shares of the bank’s stock valued at $467,000 after purchasing an additional 300 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Associated Banc-Corp by 2.2% in the second quarter. Wells Fargo & Company MN now owns 1,840,826 shares of the bank’s stock valued at $46,389,000 after purchasing an additional 38,996 shares in the last quarter. State of Tennessee Treasury Department raised its stake in shares of Associated Banc-Corp by 20.0% in the second quarter. State of Tennessee Treasury Department now owns 240,000 shares of the bank’s stock valued at $6,048,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Associated Banc-Corp by 85.7% in the second quarter. Russell Investments Group Ltd. now owns 42,157 shares of the bank’s stock valued at $1,062,000 after purchasing an additional 19,461 shares in the last quarter. Institutional investors own 77.47% of the company’s stock.
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Associated Banc-Corp (NYSE:ASB) traded up 0.82% during mid-day trading on Thursday, hitting $24.60. 846,083 shares of the stock were exchanged. The company has a 50 day moving average price of $23.48 and a 200 day moving average price of $23.99. Associated Banc-Corp has a 52 week low of $19.00 and a 52 week high of $26.70. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 17.70 and a beta of 1.20.
Associated Banc-Corp Company Profile
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
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