Associated Banc (ASB) Expected to Announce Earnings on Thursday

by · The Markets Daily

Associated Banc (NYSE:ASB – Get Free Report) is expected to be issuing its quarterly earnings data after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.53 per share and revenue of $341,571.40 billion for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Associated Banc (NYSE:ASB – Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same quarter in the prior year, the business earned $0.53 earnings per share. On average, analysts expect Associated Banc to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Associated Banc Stock Up 1.8 %

Associated Banc stock opened at $25.62 on Wednesday. Associated Banc has a 52 week low of $19.40 and a 52 week high of $28.18. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 2.04 and a beta of 0.94. The business’s 50-day moving average price is $25.31 and its 200 day moving average price is $23.34. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.23 per share. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date was Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.59%. Associated Banc’s dividend payout ratio (DPR) is presently 76.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ASB shares. Wells Fargo & Company increased their price target on shares of Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Barclays lifted their price target on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods increased their price target on Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler boosted their price objective on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Check Out Our Latest Research Report on ASB

Insider Activity

In related news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John A. Utz sold 19,044 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.

Associated Banc Company Profile

(Get Free Report)

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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