Associated Banc Corp (NYSE:ASB) Expected to Post Earnings of $0.47 Per Share
Brokerages expect that Associated Banc Corp (NYSE:ASB) will report $0.47 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Associated Banc’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.44. Associated Banc reported earnings per share of $0.49 during the same quarter last year, which indicates a negative year over year growth rate of 4.1%. The business is scheduled to report its next earnings report on Thursday, October 17th.
On average, analysts expect that Associated Banc will report full year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.88 to $1.98. For the next fiscal year, analysts anticipate that the business will report earnings of $1.98 per share, with EPS estimates ranging from $1.90 to $2.05. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Associated Banc.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The business had revenue of $309.46 million during the quarter, compared to the consensus estimate of $315.84 million. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. During the same quarter in the previous year, the business earned $0.53 earnings per share.
In other news, insider Christopher C. Piotrowski sold 10,726 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $21.37, for a total transaction of $229,214.62. Following the completion of the sale, the insider now owns 40,276 shares in the company, valued at approximately $860,698.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Moral-Niles Christopher Del sold 2,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $26.50, for a total value of $53,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,698 shares of company stock valued at $362,767 over the last three months. Corporate insiders own 2.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mason Street Advisors LLC raised its stake in shares of Associated Banc by 0.6% in the 1st quarter. Mason Street Advisors LLC now owns 87,391 shares of the bank’s stock valued at $1,866,000 after purchasing an additional 554 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Associated Banc by 2.1% during the second quarter. State of Alaska Department of Revenue now owns 32,507 shares of the bank’s stock worth $686,000 after purchasing an additional 668 shares during the last quarter. Royal Bank of Canada boosted its holdings in Associated Banc by 4.2% in the second quarter. Royal Bank of Canada now owns 18,187 shares of the bank’s stock worth $385,000 after purchasing an additional 731 shares during the period. Nicolet Advisory Services LLC boosted its holdings in Associated Banc by 0.7% in the second quarter. Nicolet Advisory Services LLC now owns 112,043 shares of the bank’s stock worth $2,369,000 after purchasing an additional 830 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Associated Banc by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 69,390 shares of the bank’s stock valued at $1,467,000 after purchasing an additional 939 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.
NYSE ASB traded up $0.31 during trading hours on Friday, hitting $20.35. 58,021 shares of the company’s stock were exchanged, compared to its average volume of 804,211. The business’s 50 day moving average is $19.86 and its 200-day moving average is $21.30. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.91 and a current ratio of 0.92. Associated Banc has a 12-month low of $18.52 and a 12-month high of $27.88. The firm has a market capitalization of $3.19 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, August 30th. This represents a $0.68 annualized dividend and a dividend yield of 3.34%. Associated Banc’s dividend payout ratio is presently 33.50%.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses 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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