Associated Banc (NYSE:ASB) Releases Earnings Results, Beats Estimates By $0.11 EPS

by · The Markets Daily

Associated Banc (NYSE:ASB – Get Free Report) posted its quarterly earnings data on Thursday. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11, FiscalAI reports. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.The company had revenue of $393.52 million during the quarter, compared to analysts’ expectations of $382.06 million.

Associated Banc Trading Up 0.7%

ASB traded up $0.19 during mid-day trading on Thursday, reaching $27.49. The stock had a trading volume of 2,841,890 shares, compared to its average volume of 2,398,020. The stock has a market capitalization of $4.56 billion, a P/E ratio of 29.24, a P/E/G ratio of 0.72 and a beta of 0.79. Associated Banc has a 52 week low of $18.32 and a 52 week high of $27.90. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s fifty day simple moving average is $26.15 and its two-hundred day simple moving average is $25.77.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.24 dividend. This is an increase from Associated Banc’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, December 1st. Associated Banc’s dividend payout ratio (DPR) is 102.13%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group reissued a “buy” rating and set a $28.00 target price on shares of Associated Banc in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Associated Banc in a research report on Monday, December 29th. Raymond James Financial restated an “outperform” rating and issued a $30.00 target price (up from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. Barclays dropped their price objective on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Finally, Wall Street Zen lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Three equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.50.

Read Our Latest Analysis on ASB

Insider Activity

In other Associated Banc news, EVP John A. Utz sold 2,135 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the transaction, the executive vice president directly owned 109,842 shares in the company, valued at approximately $2,900,927.22. This represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick Edward Ahern sold 30,489 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.70, for a total transaction of $783,567.30. Following the completion of the transaction, the executive vice president directly owned 24,055 shares in the company, valued at $618,213.50. This trade represents a 55.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 35,951 shares of company stock valued at $925,756 over the last three months. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Large investors have recently made changes to their positions in the company. Sivia Capital Partners LLC bought a new position in shares of Associated Banc during the 2nd quarter valued at about $328,000. Mercer Global Advisors Inc. ADV increased its position in shares of Associated Banc by 8.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 11,941 shares of the bank’s stock worth $307,000 after acquiring an additional 979 shares in the last quarter. Glenmede Investment Management LP raised its holdings in shares of Associated Banc by 18.0% during the third quarter. Glenmede Investment Management LP now owns 10,690 shares of the bank’s stock worth $275,000 after acquiring an additional 1,633 shares during the period. Vise Technologies Inc. lifted its position in Associated Banc by 24.6% in the 3rd quarter. Vise Technologies Inc. now owns 11,536 shares of the bank’s stock valued at $297,000 after acquiring an additional 2,276 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in Associated Banc in the 2nd quarter worth $279,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

(Get Free Report)

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.

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