Associated Banc (NYSE:ASB) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Posted by on Jan 23rd, 2021 // Comments off

Associated Banc (NYSE:ASB) released its quarterly earnings results on Wednesday. The bank reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09, MarketWatch Earnings reports. Associated Banc had a net margin of 20.66% and a return on equity of 5.68%.

Associated Banc stock opened at $19.32 on Friday. The firm has a 50 day simple moving average of $17.75 and a 200-day simple moving average of $14.79. Associated Banc has a 1-year low of $10.23 and a 1-year high of $21.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 2.05 and a beta of 1.23.

In other news, insider Tammy C. Stadler sold 7,000 shares of the stock in a transaction that occurred on Tuesday, December 8th. The shares were sold at an average price of $16.35, for a total value of $114,450.00. Following the completion of the sale, the insider now owns 46,731 shares of the company’s stock, valued at approximately $764,051.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.38% of the company’s stock.

Several research firms recently weighed in on ASB. TheStreet upgraded shares of Associated Banc from a “c+” rating to a “b” rating in a research report on Thursday, November 19th. Piper Sandler reduced their price target on shares of Associated Banc from $14.50 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, September 29th. Wells Fargo & Company upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $16.00 to $18.00 in a research report on Thursday, October 8th. Bank of America increased their price objective on shares of Associated Banc from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday. Finally, Zacks Investment Research upgraded shares of Associated Banc from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Tuesday, December 22nd. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.13.

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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Earnings History for Associated Banc (NYSE:ASB)

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