Associated Banc (ASB) Set to Announce Quarterly Earnings on Thursday

Associated Banc (NYSE:ASB) will be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 25th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The business had revenue of $322.22 million for the quarter, compared to analyst estimates of $325.89 million. On average, analysts expect Associated Banc to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Associated Banc Stock Performance

ASB stock opened at $19.96 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $20.71 and its two-hundred day simple moving average is $19.59. Associated Banc has a twelve month low of $14.47 and a twelve month high of $22.16. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.19 and a beta of 1.00.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.22 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a yield of 4.41%. Associated Banc’s payout ratio is 77.88%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 14,010 shares of Associated Banc stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now owns 89,880 shares in the company, valued at $1,905,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Associated Banc news, EVP John A. Utz sold 14,010 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the sale, the executive vice president now owns 89,880 shares of the company’s stock, valued at $1,905,456. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value of $52,785.00. Following the completion of the sale, the director now directly owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The disclosure for this sale can be found here. Insiders have sold 21,710 shares of company stock worth $454,897 over the last quarter. Insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of Associated Banc by 319.6% during the first quarter. Quarry LP now owns 2,140 shares of the bank’s stock worth $38,000 after purchasing an additional 1,630 shares during the period. Point72 Europe London LLP acquired a new stake in shares of Associated Banc during the fourth quarter worth about $42,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Associated Banc during the fourth quarter worth about $47,000. KBC Group NV acquired a new stake in shares of Associated Banc during the fourth quarter worth about $65,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Associated Banc during the first quarter worth about $91,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Analyst Upgrades and Downgrades

ASB has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Raymond James increased their target price on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Barclays initiated coverage on Associated Banc in a research note on Friday, March 8th. They set an “equal weight” rating and a $22.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a research note on Tuesday, April 9th. Finally, Piper Sandler raised their price target on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.63.

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.