Associated Banc Corp (NYSE:ASB) Expected to Announce Quarterly Sales of $300.60 Million
Equities analysts forecast that Associated Banc Corp (NYSE:ASB) will report $300.60 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Associated Banc’s earnings, with estimates ranging from $294.10 million to $307.40 million. Associated Banc posted sales of $308.00 million during the same quarter last year, which suggests a negative year over year growth rate of 2.4%. The firm is expected to announce its next quarterly earnings results on Thursday, January 23rd.
On average, analysts expect that Associated Banc will report full year sales of $1.23 billion for the current year, with estimates ranging from $1.22 billion to $1.25 billion. For the next financial year, analysts forecast that the firm will post sales of $1.22 billion, with estimates ranging from $1.20 billion to $1.27 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Associated Banc.
Associated Banc (NYSE:ASB) last released its earnings results on Thursday, October 24th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $307.00 million for the quarter, compared to analyst estimates of $312.55 million. Associated Banc had a net margin of 21.73% and a return on equity of 9.71%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS.
In related news, CFO Moral-Niles Christopher Del sold 4,000 shares of Associated Banc stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $21.73, for a total value of $86,920.00. Following the completion of the sale, the chief financial officer now directly owns 52,808 shares in the company, valued at approximately $1,147,517.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John A. Utz sold 3,000 shares of Associated Banc stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $20.04, for a total value of $60,120.00. Following the completion of the sale, the executive vice president now owns 59,348 shares of the company’s stock, valued at $1,189,333.92. The disclosure for this sale can be found here. Insiders have sold 44,481 shares of company stock valued at $957,106 in the last three months. Insiders own 2.69% of the company’s stock.
Several large investors have recently made changes to their positions in ASB. Commonwealth Bank of Australia lifted its holdings in Associated Banc by 47.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 25,600 shares of the bank’s stock worth $541,000 after purchasing an additional 8,200 shares in the last quarter. Carlson Capital L P bought a new position in Associated Banc in the 2nd quarter valued at $3,723,000. Avestar Capital LLC bought a new position in Associated Banc in the 2nd quarter valued at $150,000. Arizona State Retirement System grew its position in Associated Banc by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 118,958 shares of the bank’s stock valued at $2,515,000 after acquiring an additional 953 shares during the last quarter. Finally, First Hawaiian Bank grew its position in Associated Banc by 7.9% in the 2nd quarter. First Hawaiian Bank now owns 24,667 shares of the bank’s stock valued at $521,000 after acquiring an additional 1,810 shares during the last quarter. Institutional investors own 72.46% of the company’s stock.
ASB traded up $0.06 during trading on Friday, reaching $21.59. 1,554,392 shares of the company’s stock were exchanged, compared to its average volume of 1,110,199. Associated Banc has a one year low of $18.52 and a one year high of $23.83. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $3.44 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19. The firm has a fifty day moving average price of $20.49 and a two-hundred day moving average price of $20.64.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 3.33%. This is a boost from Associated Banc’s previous quarterly dividend of $0.17. Associated Banc’s payout ratio is 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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