Wall Street brokerages expect Associated Banc Corp (NYSE:ASB) to announce $280.42 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Associated Banc’s earnings, with the highest sales estimate coming in at $284.90 million and the lowest estimate coming in at $277.00 million. Associated Banc posted sales of $272.32 million in the same quarter last year, which suggests a positive year over year growth rate of 3%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, January 25th.
On average, analysts expect that Associated Banc will report full year sales of $280.42 million for the current financial year. For the next financial year, analysts expect that the business will report sales of $1.25 billion per share, with estimates ranging from $1.22 billion to $1.29 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Associated Banc.
Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Associated Banc had a return on equity of 7.81% and a net margin of 19.54%. The firm had revenue of $276.02 million during the quarter, compared to analyst estimates of $276.88 million. During the same quarter last year, the firm earned $0.31 EPS.
In other Associated Banc news, CFO Moral-Niles Christopher Del sold 1,476 shares of Associated Banc stock in a transaction on Monday, December 4th. The stock was sold at an average price of $26.00, for a total transaction of $38,376.00. Following the sale, the chief financial officer now owns 81,784 shares of the company’s stock, valued at approximately $2,126,384. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Breck F. Hanson sold 11,373 shares of Associated Banc stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $24.92, for a total value of $283,415.16. Following the sale, the insider now directly owns 37,722 shares in the company, valued at approximately $940,032.24. The disclosure for this sale can be found here. Insiders have sold a total of 61,426 shares of company stock valued at $1,558,805 in the last 90 days. Insiders own 1.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Associated Banc by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock valued at $321,025,000 after acquiring an additional 248,381 shares in the last quarter. State Street Corp raised its stake in Associated Banc by 2.0% during the 2nd quarter. State Street Corp now owns 6,922,074 shares of the bank’s stock valued at $174,433,000 after acquiring an additional 136,874 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Associated Banc by 3.3% in the 3rd quarter. Victory Capital Management Inc. now owns 5,178,754 shares of the bank’s stock worth $125,585,000 after buying an additional 164,148 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Associated Banc by 4.0% in the 2nd quarter. Alliancebernstein L.P. now owns 4,193,941 shares of the bank’s stock worth $105,687,000 after buying an additional 163,081 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Associated Banc by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,790,033 shares of the bank’s stock worth $91,909,000 after buying an additional 64,574 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Associated Banc (ASB) remained flat at $$25.40 on Wednesday. The company had a trading volume of 810,900 shares, compared to its average volume of 702,400. The company has a market cap of $3,830.00, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03. Associated Banc has a 52-week low of $20.95 and a 52-week high of $26.70.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.3828 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.53 dividend on an annualized basis and a yield of 6.03%. Associated Banc’s dividend payout ratio is currently 38.62%.
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Associated Banc Company Profile
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
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