Associated Banc-Corp (NYSE:ASB) Expected to Announce Earnings of $0.40 Per Share

Equities analysts expect Associated Banc-Corp (NYSE:ASB) to announce $0.40 earnings per share for the current quarter, according to Zacks. Three analysts have made estimates for Associated Banc’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.35. Associated Banc reported earnings per share of $0.24 in the same quarter last year, which would indicate a positive year-over-year growth rate of 66.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 28th.

According to Zacks, analysts expect that Associated Banc will report full-year earnings of $1.87 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $2.10. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.54 per share, with EPS estimates ranging from $1.50 to $1.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Associated Banc.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Wednesday, July 21st. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $253.00 million for the quarter, compared to analyst estimates of $258.24 million. Associated Banc had a net margin of 25.85% and a return on equity of 7.84%. Associated Banc’s revenue was down 43.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 earnings per share.

A number of brokerages recently weighed in on ASB. Royal Bank of Canada raised their target price on shares of Associated Banc from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Thursday, June 3rd. Wells Fargo & Company cut shares of Associated Banc from an “overweight” rating to an “equal weight” rating and set a $24.00 target price for the company. in a report on Friday, June 4th. Finally, TheStreet downgraded shares of Associated Banc from a “b” rating to a “c+” rating in a research report on Friday, July 30th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Associated Banc has a consensus rating of “Hold” and an average price target of $21.40.

In other Associated Banc news, EVP David L. Stein sold 16,302 shares of the firm’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $20.56, for a total value of $335,169.12. Following the sale, the executive vice president now directly owns 80,251 shares in the company, valued at approximately $1,649,960.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eileen A. Kamerick sold 4,500 shares of Associated Banc stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $20.63, for a total transaction of $92,835.00. The disclosure for this sale can be found here. Company insiders own 3.25% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Harbour Investments Inc. bought a new position in Associated Banc during the 1st quarter valued at about $34,000. Toronto Dominion Bank lifted its holdings in Associated Banc by 30.5% during the 2nd quarter. Toronto Dominion Bank now owns 4,361 shares of the bank’s stock valued at $89,000 after purchasing an additional 1,020 shares during the last quarter. Maverick Capital Ltd. bought a new position in Associated Banc during the 1st quarter valued at about $109,000. Captrust Financial Advisors raised its stake in shares of Associated Banc by 464.6% in the first quarter. Captrust Financial Advisors now owns 7,667 shares of the bank’s stock worth $164,000 after acquiring an additional 6,309 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in shares of Associated Banc in the first quarter worth about $200,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

NYSE:ASB traded down $0.43 during trading hours on Tuesday, reaching $20.47. 1,326,964 shares of the company’s stock were exchanged, compared to its average volume of 1,515,163. The company has a market capitalization of $3.13 billion, a P/E ratio of 11.37 and a beta of 1.22. Associated Banc has a 12 month low of $12.03 and a 12 month high of $23.94. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.57. The business’s 50-day simple moving average is $20.20 and its two-hundred day simple moving average is $21.34.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.91%. This is an increase from Associated Banc’s previous quarterly dividend of $0.18. Associated Banc’s dividend payout ratio (DPR) is currently 43.01%.

Associated Banc Company Profile

Associated Banc-Corp. operates as a bank holding company, which offers various banking and non-banking financial services to individuals and businesses through its subsidiaries. It operates through the following segments: Corporate and Commercial Specialty; Community, Consumer and Business; and Risk Management and Shared Services.

Featured Story: What is dividend yield?

Get a free copy of the Zacks research report on Associated Banc (ASB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Associated Banc (NYSE:ASB)

Receive News & Ratings for Associated Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc and related companies with MarketBeat.com's FREE daily email newsletter.