Wall Street brokerages forecast that Associated Banc Corp (NYSE:ASB) will report earnings of $0.47 per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Associated Banc’s earnings. The lowest EPS estimate is $0.45 and the highest is $0.52. Associated Banc posted earnings of $0.36 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.6%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 19th.
On average, analysts expect that Associated Banc will report full-year earnings of $1.96 per share for the current year, with EPS estimates ranging from $1.92 to $2.02. For the next year, analysts expect that the business will post earnings of $2.08 per share, with EPS estimates ranging from $2.00 to $2.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Associated Banc.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, April 19th. The bank reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.09. The firm had revenue of $300.25 million during the quarter, compared to the consensus estimate of $292.49 million. Associated Banc had a net margin of 18.87% and a return on equity of 8.53%. During the same quarter last year, the firm earned $0.35 earnings per share.
A number of equities research analysts recently commented on ASB shares. DA Davidson raised their price objective on shares of Associated Banc from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, April 20th. Royal Bank of Canada restated a “hold” rating and issued a $28.00 price objective on shares of Associated Banc in a research report on Friday, April 20th. Sandler O’Neill upgraded shares of Associated Banc from a “hold” rating to a “buy” rating in a research report on Friday, April 20th. Zacks Investment Research upgraded shares of Associated Banc from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, May 1st. Finally, ValuEngine downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.40.
In other Associated Banc news, insider William M. Bohn sold 7,600 shares of the stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $27.76, for a total value of $210,976.00. Following the completion of the transaction, the insider now directly owns 48,015 shares of the company’s stock, valued at $1,332,896.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Judith M. Docter sold 35,679 shares of the stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $26.50, for a total transaction of $945,493.50. Following the completion of the transaction, the insider now directly owns 44,332 shares of the company’s stock, valued at $1,174,798. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,049 shares of company stock valued at $2,008,563. 2.13% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Associated Banc by 17.0% in the first quarter. BlackRock Inc. now owns 14,958,614 shares of the bank’s stock valued at $371,721,000 after buying an additional 2,172,022 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Associated Banc by 10.1% in the first quarter. Dimensional Fund Advisors LP now owns 11,850,419 shares of the bank’s stock valued at $294,483,000 after buying an additional 1,088,186 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Associated Banc by 1.2% during the 1st quarter. JPMorgan Chase & Co. now owns 4,767,047 shares of the bank’s stock worth $118,462,000 after purchasing an additional 56,049 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Associated Banc by 4.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,609,209 shares of the bank’s stock worth $117,074,000 after purchasing an additional 187,460 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC increased its stake in shares of Associated Banc by 2.0% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 3,746,357 shares of the bank’s stock worth $95,157,000 after purchasing an additional 71,836 shares in the last quarter. 76.48% of the stock is owned by institutional investors.
Shares of NYSE:ASB opened at $28.25 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market capitalization of $4.84 billion, a P/E ratio of 16.88, a PEG ratio of 2.05 and a beta of 0.99. Associated Banc has a 52 week low of $20.95 and a 52 week high of $29.02.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $0.60 dividend on an annualized basis and a yield of 2.12%. Associated Banc’s dividend payout ratio (DPR) is presently 39.47%.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily 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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