Analysts Anticipate Associated Banc-Corp (NYSE:ASB) Will Announce Quarterly Sales of $268.80 Million

Equities analysts expect Associated Banc-Corp (NYSE:ASBGet Rating) to announce sales of $268.80 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Associated Banc’s earnings, with the lowest sales estimate coming in at $268.70 million and the highest estimate coming in at $269.00 million. Associated Banc reported sales of $275.32 million in the same quarter last year, which indicates a negative year-over-year growth rate of 2.4%. The business is expected to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Associated Banc will report full-year sales of $1.15 billion for the current fiscal year, with estimates ranging from $1.13 billion to $1.18 billion. For the next fiscal year, analysts expect that the company will post sales of $1.27 billion, with estimates ranging from $1.25 billion to $1.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Associated Banc.

Associated Banc (NYSE:ASBGet Rating) last posted its quarterly earnings data on Thursday, January 20th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.07. The business had revenue of $272.70 million for the quarter, compared to the consensus estimate of $263.68 million. Associated Banc had a net margin of 31.05% and a return on equity of 9.22%. During the same period last year, the firm posted $0.40 earnings per share.

ASB has been the topic of several research reports. Wells Fargo & Company raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $26.00 to $28.00 in a research note on Monday, March 21st. StockNews.com initiated coverage on shares of Associated Banc in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Bank of America reissued an “underperform” rating and issued a $23.00 price target on shares of Associated Banc in a research note on Tuesday, January 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Associated Banc has an average rating of “Hold” and an average target price of $24.75.

In other Associated Banc news, Director John B. Williams sold 3,000 shares of Associated Banc stock in a transaction dated Thursday, February 3rd. The shares were sold at an average price of $24.87, for a total transaction of $74,610.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew R. Braeger sold 10,994 shares of Associated Banc stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $25.47, for a total transaction of $280,017.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,394 shares of company stock valued at $623,240. 3.04% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ASB. Allspring Global Investments Holdings LLC purchased a new position in Associated Banc in the fourth quarter worth approximately $53,255,000. Goldman Sachs Group Inc. lifted its stake in Associated Banc by 160.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,913,446 shares of the bank’s stock worth $65,815,000 after acquiring an additional 1,796,682 shares during the last quarter. Norges Bank purchased a new position in Associated Banc in the fourth quarter worth approximately $34,414,000. Balyasny Asset Management LLC lifted its stake in Associated Banc by 224.9% in the third quarter. Balyasny Asset Management LLC now owns 1,113,945 shares of the bank’s stock worth $23,861,000 after acquiring an additional 771,063 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in Associated Banc in the fourth quarter worth approximately $15,372,000. Institutional investors and hedge funds own 77.86% of the company’s stock.

ASB opened at $21.50 on Friday. The firm’s fifty day simple moving average is $23.51 and its two-hundred day simple moving average is $23.26. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 1.53 and a beta of 1.02. Associated Banc has a 52-week low of $18.40 and a 52-week high of $25.78.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.72%. The ex-dividend date was Monday, February 28th. Associated Banc’s payout ratio is currently 36.53%.

About Associated Banc (Get Rating)

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.

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