$0.50 Earnings Per Share Expected for Associated Banc Corp (ASB) This Quarter

Wall Street analysts expect Associated Banc Corp (NYSE:ASB) to report earnings per share (EPS) of $0.50 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Associated Banc’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.53. Associated Banc also posted earnings per share of $0.50 in the same quarter last year. The company is scheduled to report its next quarterly earnings results on Thursday, April 18th.

According to Zacks, analysts expect that Associated Banc will report full year earnings of $2.07 per share for the current year, with EPS estimates ranging from $1.91 to $2.21. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.16 per share, with EPS estimates ranging from $2.06 to $2.31. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Associated Banc.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $308.00 million for the quarter, compared to the consensus estimate of $311.13 million. Associated Banc had a net margin of 22.09% and a return on equity of 9.79%. During the same period in the previous year, the firm earned $0.31 EPS.

A number of equities analysts have issued reports on ASB shares. Jefferies Financial Group raised shares of Associated Banc from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, January 8th. Morgan Stanley cut their price target on shares of Associated Banc from $27.50 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 11th. Zacks Investment Research reissued a “hold” rating on shares of Associated Banc in a report on Monday, November 12th. Barclays reissued a “hold” rating and issued a $25.00 price target on shares of Associated Banc in a report on Friday, January 11th. Finally, Royal Bank of Canada cut their price target on shares of Associated Banc to $24.00 and set a “sector perform” rating on the stock in a report on Friday, January 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $25.60.

ASB traded up $0.33 during mid-day trading on Wednesday, reaching $23.67. 970,706 shares of the stock were exchanged, compared to its average volume of 1,421,988. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.61 and a beta of 1.09. Associated Banc has a 1 year low of $18.53 and a 1 year high of $29.02.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, February 28th. Associated Banc’s dividend payout ratio is currently 33.50%.

In other news, CFO Moral-Niles Christopher Del sold 2,239 shares of the company’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $20.86, for a total transaction of $46,705.54. Following the sale, the chief financial officer now directly owns 57,337 shares in the company, valued at $1,196,049.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John P. Hankerd sold 8,013 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $22.46, for a total value of $179,971.98. Following the sale, the insider now owns 32,141 shares in the company, valued at $721,886.86. The disclosure for this sale can be found here. Insiders sold a total of 45,633 shares of company stock worth $1,023,975 over the last 90 days. 2.13% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. increased its position in shares of Associated Banc by 18.8% during the third quarter. Baird Financial Group Inc. now owns 14,511 shares of the bank’s stock valued at $374,000 after buying an additional 2,301 shares during the period. Swiss National Bank increased its position in shares of Associated Banc by 0.8% in the third quarter. Swiss National Bank now owns 297,940 shares of the bank’s stock worth $7,746,000 after purchasing an additional 2,300 shares during the last quarter. WoodTrust Financial Corp increased its position in shares of Associated Banc by 78.2% in the third quarter. WoodTrust Financial Corp now owns 14,892 shares of the bank’s stock worth $388,000 after purchasing an additional 6,537 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Associated Banc by 2.0% in the third quarter. Vanguard Group Inc. now owns 15,465,462 shares of the bank’s stock worth $402,102,000 after purchasing an additional 304,733 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Associated Banc by 2.5% in the third quarter. BlackRock Inc. now owns 14,955,679 shares of the bank’s stock worth $388,848,000 after purchasing an additional 370,274 shares during the last quarter. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Associated Banc Company Profile

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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Earnings History and Estimates for Associated Banc (NYSE:ASB)

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