Brokerages forecast that Associated Banc Corp (NYSE:ASB) will announce $0.49 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Associated Banc’s earnings, with estimates ranging from $0.44 to $0.53. Associated Banc also reported earnings of $0.49 per share in the same quarter last year. The firm is scheduled to announce its next earnings report on Thursday, October 17th.
On average, analysts expect that Associated Banc will report full year earnings of $1.96 per share for the current financial year, with EPS estimates ranging from $1.88 to $2.06. For the next year, analysts expect that the business will report earnings of $2.01 per share, with EPS estimates ranging from $1.90 to $2.19. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Associated Banc.
Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Associated Banc had a net margin of 22.01% and a return on equity of 9.86%. The business had revenue of $309.46 million during the quarter, compared to analyst estimates of $315.84 million. During the same period last year, the business posted $0.53 earnings per share.
Several analysts have commented on the stock. Royal Bank of Canada set a $179.00 price objective on shares of 3M and gave the stock a “hold” rating in a report on Friday. Zacks Investment Research raised shares of IMI PLC/S from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Associated Banc currently has a consensus rating of “Hold” and an average target price of $24.78.
ASB traded up $0.27 on Tuesday, hitting $21.65. The company had a trading volume of 1,556,600 shares, compared to its average volume of 1,154,693. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.91. Associated Banc has a 52-week low of $18.53 and a 52-week high of $27.95. The business has a fifty day simple moving average of $20.98. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 1.36 and a beta of 1.16.
In other Associated Banc news, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.89, for a total transaction of $228,900.00. Following the completion of the transaction, the chief executive officer now owns 218,996 shares of the company’s stock, valued at $5,012,818.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lith Karen Van sold 5,060 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $23.05, for a total transaction of $116,633.00. Following the transaction, the director now directly owns 45,991 shares of the company’s stock, valued at approximately $1,060,092.55. The disclosure for this sale can be found here. Insiders have sold 20,060 shares of company stock valued at $461,133 in the last ninety days. Insiders own 2.69% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ASB. Norges Bank bought a new position in shares of Associated Banc during the fourth quarter valued at approximately $36,644,000. LSV Asset Management increased its position in shares of Associated Banc by 34.3% during the first quarter. LSV Asset Management now owns 1,841,614 shares of the bank’s stock valued at $39,318,000 after acquiring an additional 470,500 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Associated Banc during the first quarter valued at approximately $8,537,000. Dimensional Fund Advisors LP increased its position in shares of Associated Banc by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,724,871 shares of the bank’s stock valued at $212,245,000 after acquiring an additional 344,594 shares in the last quarter. Finally, Seacliff Capital LLC bought a new stake in shares of Associated Banc during the first quarter valued at approximately $3,202,000. 73.26% of the stock is owned by institutional investors and hedge funds.
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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