Analysts expect that Associated Banc Corp (NYSE:ASB) will announce sales of $298.88 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Associated Banc’s earnings, with estimates ranging from $293.20 million to $305.50 million. Associated Banc posted sales of $306.75 million in the same quarter last year, which suggests a negative year-over-year growth rate of 2.6%. The company is scheduled to issue its next earnings results on Thursday, April 23rd.
On average, analysts expect that Associated Banc will report full-year sales of $1.22 billion for the current fiscal year, with estimates ranging from $1.20 billion to $1.25 billion. For the next financial year, analysts forecast that the company will report sales of $1.25 billion, with estimates ranging from $1.23 billion to $1.29 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Associated Banc.
Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, January 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. Associated Banc had a net margin of 20.79% and a return on equity of 9.17%. The firm had revenue of $293.08 million for the quarter, compared to analysts’ expectations of $297.30 million. During the same quarter last year, the business earned $0.51 earnings per share.
ASB has been the subject of a number of recent research reports. Wells Fargo & Co downgraded Associated Banc from an “equal weight” rating to an “underweight” rating and set a $20.00 price target for the company. in a research note on Monday, January 6th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $22.00 price target on shares of Associated Banc in a research note on Monday, January 27th. Stephens set a $22.00 price target on Associated Banc and gave the company a “hold” rating in a research note on Friday, October 25th. Bank of America set a $19.00 price target on Associated Banc and gave the company a “sell” rating in a research note on Friday, October 25th. Finally, Robert W. Baird downgraded Associated Banc from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.50.
In other Associated Banc news, EVP John P. Hankerd sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.57, for a total value of $123,420.00. Following the completion of the transaction, the executive vice president now directly owns 19,366 shares in the company, valued at approximately $398,358.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John P. Hankerd sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $21.75, for a total value of $65,250.00. Following the completion of the transaction, the executive vice president now owns 21,566 shares of the company’s stock, valued at $469,060.50. The disclosure for this sale can be found here. Insiders sold a total of 14,800 shares of company stock valued at $313,370 over the last 90 days. 2.69% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. LSV Asset Management raised its holdings in Associated Banc by 11.4% during the 4th quarter. LSV Asset Management now owns 2,746,229 shares of the bank’s stock valued at $60,526,000 after buying an additional 280,804 shares during the period. Pzena Investment Management LLC raised its holdings in Associated Banc by 19.2% during the 4th quarter. Pzena Investment Management LLC now owns 2,619,005 shares of the bank’s stock valued at $57,723,000 after buying an additional 422,630 shares during the period. Bank of New York Mellon Corp raised its holdings in Associated Banc by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,299,138 shares of the bank’s stock valued at $50,674,000 after buying an additional 290,440 shares during the period. AQR Capital Management LLC raised its holdings in Associated Banc by 18.1% during the 4th quarter. AQR Capital Management LLC now owns 1,643,464 shares of the bank’s stock valued at $36,222,000 after buying an additional 251,707 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Associated Banc by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,395,494 shares of the bank’s stock valued at $30,757,000 after buying an additional 11,338 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:ASB opened at $20.27 on Friday. Associated Banc has a fifty-two week low of $18.52 and a fifty-two week high of $23.83. The business has a 50-day simple moving average of $20.92 and a two-hundred day simple moving average of $20.66. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.18 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.72 annualized dividend and a yield of 3.55%. Associated Banc’s payout ratio is 36.55%.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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