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, 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.

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

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