Brokers Issue Forecasts for Associated Banc FY2024 Earnings

Associated Banc-Corp (NYSE:ASB) – Analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for Associated Banc in a report issued on Thursday, October 17th. Zacks Research analyst R. Department now expects that the bank will post earnings of $2.04 per share for the year, down from their previous estimate of $2.05. The consensus estimate for Associated Banc’s current full-year earnings is $2.06 per share. Zacks Research also issued estimates for Associated Banc’s Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.57 EPS, FY2025 earnings at $2.25 EPS and Q3 2026 earnings at $0.59 EPS.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $321.75 million for the quarter, compared to analyst estimates of $330.69 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. Associated Banc’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 earnings per share.

A number of other brokerages also recently commented on ASB. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Stephens restated an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a research note on Tuesday, July 30th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group decreased their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, Robert W. Baird decreased their price target on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Associated Banc currently has an average rating of “Hold” and an average price target of $23.78.

Associated Banc Stock Performance

Shares of NYSE ASB opened at $22.85 on Friday. The business’s 50-day moving average price is $21.62 and its two-hundred day moving average price is $21.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. Associated Banc has a one year low of $15.16 and a one year high of $24.21. The company has a market capitalization of $3.45 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93.

Hedge Funds Weigh In On Associated Banc

Several large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its holdings in Associated Banc by 4.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock valued at $234,000 after acquiring an additional 525 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Associated Banc by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 42,068 shares of the bank’s stock worth $890,000 after buying an additional 586 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Associated Banc by 2.4% in the 2nd quarter. Truist Financial Corp now owns 27,082 shares of the bank’s stock worth $573,000 after buying an additional 636 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Associated Banc by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock worth $4,018,000 after buying an additional 651 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Associated Banc by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock worth $1,072,000 after buying an additional 656 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Insider Activity at Associated Banc

In related news, EVP Randall J. Erickson sold 23,774 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now owns 128,680 shares in the company, valued at $2,958,353.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the transaction, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 approximately $1,108,254.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock worth $757,214 in the last 90 days. 1.45% of the stock is owned by company insiders.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 3.85%. Associated Banc’s payout ratio is 88.89%.

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.