Associated Banc FY2024 EPS Forecast Lifted by Zacks Research

Associated Banc-Corp (NYSE:ASB) – Stock analysts at Zacks Research increased their FY2024 earnings estimates for Associated Banc in a research report issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the bank will post earnings per share of $2.12 for the year, up from their previous forecast of $2.04. The consensus estimate for Associated Banc’s current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Associated Banc’s Q1 2025 earnings at $0.53 EPS, FY2025 earnings at $2.27 EPS and Q3 2026 earnings at $0.62 EPS.

Other equities analysts have also issued research reports about the company. Robert W. Baird dropped their target price on Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Stephens reiterated an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a report on Tuesday, July 30th. Royal Bank of Canada boosted their target price on Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Barclays increased their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Associated Banc currently has a consensus rating of “Hold” and an average price target of $23.89.

Associated Banc Price Performance

Shares of NYSE ASB opened at $26.55 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The stock’s 50-day moving average is $22.92 and its two-hundred day moving average is $22.01. Associated Banc has a 1-year low of $17.30 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. The business had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter last year, the firm posted $0.53 earnings per share.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.23 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.47%. Associated Banc’s payout ratio is 76.67%.

Insider Buying and Selling

In related news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the sale, the executive vice president now owns 100,204 shares in the company, valued at approximately $2,423,934.76. The trade was a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,641 shares of company stock valued at $1,481,496 over the last quarter. Company insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in shares of Associated Banc by 285.2% in the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after buying an additional 907 shares during the last quarter. Quest Partners LLC purchased a new stake in Associated Banc in the 2nd quarter worth approximately $38,000. Point72 DIFC Ltd acquired a new position in Associated Banc in the 3rd quarter valued at $39,000. Farther Finance Advisors LLC raised its holdings in Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after acquiring an additional 1,438 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Associated Banc during the second quarter worth $93,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

About Associated Banc

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.