Brokerages Anticipate Associated Banc-Corp (NYSE:ASB) to Announce $0.37 Earnings Per Share

Equities analysts expect that Associated Banc-Corp (NYSE:ASBGet Rating) will announce $0.37 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for Associated Banc’s earnings, with estimates ranging from $0.33 to $0.40. Associated Banc posted earnings of $0.58 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 36.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Associated Banc will report full-year earnings of $1.77 per share for the current year, with EPS estimates ranging from $1.67 to $1.88. For the next year, analysts expect that the company will report earnings of $2.20 per share, with EPS estimates ranging from $2.02 to $2.41. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Associated Banc.

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

A number of brokerages recently issued reports on ASB. StockNews.com began coverage on shares of Associated Banc in a report on Thursday, March 31st. They issued a “hold” rating for the company. Wells Fargo & Company raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $26.00 to $28.00 in a research note on Monday, March 21st. Finally, Bank of America reissued an “underperform” rating and set a $23.00 price target on shares of Associated Banc in a research report 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $24.75.

In related news, EVP John A. Utz sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $24.75, for a total value of $49,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eileen A. Kamerick sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $23.55, for a total transaction of $105,975.00. The disclosure for this sale can be found here. Insiders have sold 25,394 shares of company stock worth $623,240 in the last three months. Corporate insiders own 3.04% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Associated Banc in the fourth quarter valued at approximately $34,414,000. Quent Capital LLC acquired a new stake in Associated Banc during the fourth quarter worth approximately $39,000. BlackRock Inc. raised its holdings in Associated Banc by 2.2% during the fourth quarter. BlackRock Inc. now owns 17,540,484 shares of the bank’s stock worth $396,237,000 after purchasing an additional 375,548 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Associated Banc by 160.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,913,446 shares of the bank’s stock worth $65,815,000 after purchasing an additional 1,796,682 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Associated Banc by 2.8% during the fourth quarter. Deutsche Bank AG now owns 96,791 shares of the bank’s stock worth $2,187,000 after purchasing an additional 2,678 shares in the last quarter. 77.86% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ASB opened at $21.50 on Thursday. Associated Banc has a fifty-two week low of $18.40 and a fifty-two week high of $25.78. The stock has a market capitalization of $3.23 billion, a PE ratio of 9.82, a P/E/G ratio of 1.52 and a beta of 1.02. The company has a fifty day moving average of $23.51 and a two-hundred day moving average of $23.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 0.86.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were given a dividend of $0.20 per share. The ex-dividend date was Monday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.72%. Associated Banc’s dividend payout ratio is presently 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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Earnings History and Estimates for Associated Banc (NYSE:ASB)

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