Associated Banc (NYSE:ASB – Get Free Report) posted its quarterly earnings data on Thursday. The bank reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52, Briefing.com reports. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The business had revenue of $321.75 million for the quarter, compared to analyst estimates of $330.69 million. During the same period in the previous year, the company posted $0.56 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis.
Associated Banc Stock Up 0.1 %
NYSE ASB traded up $0.03 during trading on Friday, hitting $23.96. The stock had a trading volume of 2,803,406 shares, compared to its average volume of 1,342,832. The company has a market capitalization of $3.61 billion, a PE ratio of 24.19, a P/E/G ratio of 2.21 and a beta of 0.95. Associated Banc has a 12 month low of $15.16 and a 12 month high of $24.21. The company’s 50-day moving average price is $21.21 and its two-hundred day moving average price is $21.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.86 and a current ratio of 0.86.
Associated Banc Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.88 annualized dividend and a dividend yield of 3.67%. Associated Banc’s dividend payout ratio is currently 88.89%.
Insider Activity
Wall Street Analysts Forecast Growth
Several research analysts have commented on ASB shares. Baird R W downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays reduced their price target on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday. Wells Fargo & Company increased their target price on shares of Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada lifted their price objective on Associated Banc from $23.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Associated Banc currently has an average rating of “Hold” and an average price target of $23.56.
View Our Latest Stock Report on Associated Banc
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.
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