Analysts Anticipate Associated Banc-Corp (ASB) to Announce $0.36 EPS
Brokerages predict that Associated Banc-Corp (NYSE:ASB) will post earnings per share (EPS) of $0.36 for the current quarter, according to Zacks. Six analysts have made estimates for Associated Banc-Corp’s earnings. The lowest EPS estimate is $0.33 and the highest is $0.38. Associated Banc-Corp reported earnings of $0.34 per share during the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The company is scheduled to issue its next earnings results on Thursday, October 19th.
On average, analysts expect that Associated Banc-Corp will report full year earnings of $1.44 per share for the current year, with EPS estimates ranging from $1.41 to $1.46. For the next year, analysts expect that the business will post earnings of $1.56 per share, with EPS estimates ranging from $1.51 to $1.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Associated Banc-Corp.
Associated Banc-Corp (NYSE:ASB) last announced its earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $266.23 million during the quarter, compared to analysts’ expectations of $273.29 million. 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 earnings per share.
A number of analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 price objective on shares of Associated Banc-Corp in a research note on Friday, July 21st. BidaskClub raised shares of Associated Banc-Corp from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. DA Davidson raised shares of Associated Banc-Corp from an “underperform” rating to a “neutral” rating and set a $21.00 price objective for the company in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Associated Banc-Corp from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, June 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $25.00 price objective (up from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $25.25.
In other news, insider John A. Utz sold 8,054 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $23.62, for a total value of $190,235.48. Following the completion of the sale, the insider now directly owns 44,405 shares of the company’s stock, valued at $1,048,846.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip B. Flynn sold 10,000 shares of the 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 sale, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at $3,012,281.85. The disclosure for this sale can be found here. Insiders sold 38,772 shares of company stock valued at $914,334 over the last three months. 1.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC lifted its position in shares of Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock worth $156,000 after purchasing an additional 30 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Associated Banc-Corp by 0.5% in the second quarter. Wedge Capital Management L L P NC now owns 27,159 shares of the bank’s stock worth $684,000 after purchasing an additional 123 shares in the last quarter. Citigroup Inc. lifted its position in shares of Associated Banc-Corp by 1.0% in the second quarter. Citigroup Inc. now owns 16,135 shares of the bank’s stock worth $407,000 after purchasing an additional 155 shares in the last quarter. World Asset Management Inc lifted its position in shares of Associated Banc-Corp by 2.5% in the second quarter. World Asset Management Inc now owns 9,629 shares of the bank’s stock worth $243,000 after purchasing an additional 236 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Associated Banc-Corp by 1.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,175 shares of the bank’s stock worth $541,000 after purchasing an additional 253 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.
Associated Banc-Corp (NYSE ASB) traded up 1.491% during trading on Tuesday, hitting $22.125. 75,053 shares of the stock were exchanged. The stock’s 50-day moving average price is $22.57 and its 200-day moving average price is $24.18. The firm has a market cap of $3.36 billion, a PE ratio of 15.917 and a beta of 1.17. Associated Banc-Corp has a 12-month low of $18.85 and a 12-month high of $26.70.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio (DPR) is 34.53%.
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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