Associated Banc-Corp (ASB) Set to Announce Quarterly Earnings on Thursday
Associated Banc-Corp (NYSE:ASB) is set to announce its earnings results after the market closes on Thursday, October 19th. Analysts expect the company to announce earnings of $0.37 per share for the quarter.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The firm had revenue of $266.23 million for the quarter, compared to analyst estimates of $273.29 million. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. During the same period in the previous year, the company posted $0.31 earnings per share. On average, analysts expect Associated Banc-Corp to post $1.43 EPS for the current fiscal year and $1.56 EPS for the next fiscal year.
Shares of Associated Banc-Corp (NYSE:ASB) opened at 24.55 on Tuesday. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 18.60 and a beta of 1.19. Associated Banc-Corp has a 52 week low of $19.00 and a 52 week high of $26.70. The stock has a 50 day moving average price of $23.24 and a 200-day moving average price of $23.98.
Several equities analysts recently weighed in on ASB shares. Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Associated Banc-Corp in a research note on Sunday, October 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Associated Banc-Corp in a research note on Friday, July 14th. BidaskClub downgraded Associated Banc-Corp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a report on Tuesday, August 22nd. Finally, Piper Jaffray Companies set a $25.00 target price on Associated Banc-Corp and gave the company a “hold” rating in a report on Saturday, July 22nd. One analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The company 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 firm’s stock in a transaction 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 sale, the chief executive officer now owns 127,585 shares in the company, valued at $3,012,281.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John A. Utz sold 8,054 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $23.62, for a total value of $190,235.48. Following the sale, the insider now owns 44,405 shares in the company, valued at approximately $1,048,846.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,772 shares of company stock worth $914,334. 1.80% of the stock is owned by insiders.
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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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