Associated Banc (NYSE:ASB) Announces Earnings Results, Beats Expectations By $0.11 EPS

Associated Banc (NYSE:ASB) released its earnings results on Thursday. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.69 by $0.11, FiscalAI reports. The firm had revenue of $393.52 million for the quarter, compared to analysts’ expectations of $382.06 million. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.

Associated Banc Stock Performance

Associated Banc stock traded up $0.19 during trading hours on Thursday, hitting $27.49. The company had a trading volume of 2,841,890 shares, compared to its average volume of 2,398,020. The firm has a market cap of $4.56 billion, a PE ratio of 29.24, a PEG ratio of 0.72 and a beta of 0.79. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.90. Associated Banc has a one year low of $18.32 and a one year high of $27.90. The firm has a 50-day moving average of $26.15 and a 200 day moving average of $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 paid a $0.24 dividend. This is an increase from Associated Banc’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.5%. Associated Banc’s dividend payout ratio (DPR) is currently 102.13%.

Wall Street Analyst Weigh In

ASB has been the subject of a number of analyst reports. Barclays decreased their price target on 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. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Truist Financial upped their price target on shares of Associated Banc from $27.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Associated Banc in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.50.

Insider Buying and Selling

In other news, EVP John A. Utz sold 2,135 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total value of $56,385.35. Following the transaction, the executive vice president owned 109,842 shares of the company’s stock, valued at approximately $2,900,927.22. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick Edward Ahern sold 30,489 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $25.70, for a total value of $783,567.30. Following the transaction, the executive vice president owned 24,055 shares in the company, valued at approximately $618,213.50. This trade represents a 55.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 35,951 shares of company stock valued at $925,756. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

A number of institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its position in Associated Banc by 0.3% during the second quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after acquiring an additional 394 shares during the period. Tidal Investments LLC grew its position in shares of Associated Banc by 2.0% during the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after purchasing an additional 549 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Associated Banc by 3.7% during the second quarter. Osaic Holdings Inc. now owns 22,256 shares of the bank’s stock worth $543,000 after purchasing an additional 800 shares during the period. Quarry LP raised its position in shares of Associated Banc by 62.6% in the third quarter. Quarry LP now owns 2,226 shares of the bank’s stock valued at $57,000 after buying an additional 857 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Associated Banc by 8.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 11,941 shares of the bank’s stock valued at $307,000 after buying an additional 979 shares during the period. Institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

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.