Associated Banc-Corp (ASB) Expected to Announce Quarterly Sales of $307.58 Million

Analysts predict that Associated Banc-Corp (NYSE:ASB) will announce $307.58 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Associated Banc’s earnings. The lowest sales estimate is $305.80 million and the highest is $309.40 million. Associated Banc reported sales of $271.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.4%. The firm is scheduled to report its next quarterly earnings results on Thursday, July 19th.

According to Zacks, analysts expect that Associated Banc will report full year sales of $1.23 billion for the current year, with estimates ranging from $1.21 billion to $1.24 billion. For the next year, analysts forecast that the company will post sales of $1.29 billion per share, with estimates ranging from $1.27 billion to $1.32 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Associated Banc.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 19th. The bank reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. Associated Banc had a net margin of 18.87% and a return on equity of 8.88%. The company had revenue of $300.25 million for the quarter, compared to the consensus estimate of $292.49 million. During the same period in the previous year, the firm earned $0.35 earnings per share.

Several brokerages recently commented on ASB. DA Davidson lifted their target price on shares of Associated Banc from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday. Sandler O’Neill raised shares of Associated Banc from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird raised shares of Associated Banc from a “neutral” rating to an “outperform” rating in a research note on Friday. Royal Bank of Canada reaffirmed a “hold” rating and issued a $28.00 target price on shares of Associated Banc in a research note on Friday. Finally, Zacks Investment Research downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.00.

In other news, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $25.08, for a total transaction of $250,800.00. Following the sale, the chief executive officer now owns 122,457 shares in the company, valued at approximately $3,071,221.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John A. Utz sold 12,865 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $26.75, for a total transaction of $344,138.75. Following the sale, the executive vice president now owns 42,384 shares in the company, valued at approximately $1,133,772. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,568 shares of company stock worth $3,621,898. Insiders own 2.13% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB bought a new stake in shares of Associated Banc during the 4th quarter valued at $365,000. Sterling Capital Management LLC bought a new stake in shares of Associated Banc during the 4th quarter valued at $798,000. MetLife Investment Advisors LLC bought a new stake in shares of Associated Banc during the 4th quarter valued at $2,429,000. All Terrain Financial Advisors LLC bought a new stake in shares of Associated Banc during the 4th quarter valued at $1,017,000. Finally, Macquarie Group Ltd. boosted its holdings in shares of Associated Banc by 290.9% during the 4th quarter. Macquarie Group Ltd. now owns 8,600 shares of the bank’s stock valued at $218,000 after buying an additional 6,400 shares in the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Shares of NYSE ASB traded up $1.95 during mid-day trading on Friday, hitting $26.50. The stock had a trading volume of 4,747,254 shares, compared to its average volume of 1,224,097. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.10. Associated Banc has a 1 year low of $20.95 and a 1 year high of $27.20. The company has a market cap of $3,723.94, a price-to-earnings ratio of 14.61, a PEG ratio of 1.99 and a beta of 1.00.

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About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily 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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