Wall Street brokerages forecast that Associated Banc Corp (NYSE:ASB) will report $0.39 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Associated Banc’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.43. Associated Banc reported earnings per share of $0.35 in the same quarter last year, which suggests a positive year over year growth rate of 11.4%. The firm is scheduled to issue its next quarterly earnings results on Thursday, April 19th.
According to Zacks, analysts expect that Associated Banc will report full-year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.68 to $1.84. For the next financial year, analysts expect that the firm will report earnings of $1.93 per share, with EPS estimates ranging from $1.85 to $2.00. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Associated Banc.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). The business had revenue of $272.00 million during the quarter, compared to the consensus estimate of $281.38 million. Associated Banc had a return on equity of 8.05% and a net margin of 18.80%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS.
A number of analysts have recently commented on the stock. Zacks Investment Research lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Morgan Stanley cut their price objective on shares of Associated Banc from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 31st. Barclays reissued a “hold” rating and issued a $28.00 price objective on shares of Associated Banc in a research report on Tuesday, January 30th. Piper Jaffray Companies reissued a “hold” rating and issued a $26.00 price objective on shares of Associated Banc in a research report on Sunday, January 28th. Finally, SunTrust Banks reissued a “hold” rating and issued a $27.00 price objective on shares of Associated Banc in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.30.
Shares of Associated Banc (NYSE ASB) opened at $24.60 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.10. The company has a market cap of $3,780.00, a price-to-earnings ratio of 16.29, a PEG ratio of 2.01 and a beta of 1.08. Associated Banc has a 1 year low of $20.95 and a 1 year high of $26.70.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a dividend of $0.15 per share. This is a positive change from Associated Banc’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, February 28th. Associated Banc’s dividend payout ratio is 37.09%.
In other Associated Banc news, insider William M. Bohn sold 15,946 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $26.00, for a total transaction of $414,596.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Breck F. Hanson sold 6,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $25.71, for a total transaction of $154,260.00. Following the sale, the executive vice president now directly owns 15,536 shares in the company, valued at $399,430.56. The disclosure for this sale can be found here. Insiders have sold 78,010 shares of company stock worth $1,958,348 over the last ninety days. Insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ASB. Landaas & Co. WI ADV raised its position in shares of Associated Banc by 98.8% in the fourth quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock valued at $107,000 after purchasing an additional 2,091 shares during the period. QS Investors LLC raised its position in shares of Associated Banc by 1,369.9% in the fourth quarter. QS Investors LLC now owns 5,027 shares of the bank’s stock valued at $128,000 after purchasing an additional 4,685 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Associated Banc in the third quarter valued at about $157,000. Meeder Asset Management Inc. raised its position in shares of Associated Banc by 393.4% in the third quarter. Meeder Asset Management Inc. now owns 7,322 shares of the bank’s stock valued at $178,000 after purchasing an additional 5,838 shares during the period. Finally, Savant Capital LLC bought a new position in shares of Associated Banc in the fourth quarter valued at about $202,000. 66.57% of the stock is currently owned by hedge funds and other institutional investors.
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About Associated Banc
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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