Associated Banc-Corp (ASB) Expected to Announce Quarterly Sales of $293.78 Million

Equities analysts expect that Associated Banc-Corp (NYSE:ASB) will post $293.78 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 $289.12 million and the highest is $303.90 million. Associated Banc posted sales of $260.11 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.9%. The business is expected to report its next earnings results after the market closes on Thursday, April 19th.

On average, 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 financial year, analysts forecast that the business will report sales of $1.29 billion per share, with estimates ranging from $1.27 billion to $1.32 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Associated Banc.

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Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). The firm had revenue of $272.00 million during the quarter, compared to the consensus estimate of $281.38 million. Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.34 earnings per share.

A number of analysts have weighed in on ASB shares. Zacks Investment Research raised shares of Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, January 2nd. Barclays boosted their target price on shares of Associated Banc from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Piper Jaffray reaffirmed a “hold” rating and set a $27.00 target price on shares of Associated Banc in a research note on Tuesday, January 9th. Morgan Stanley decreased their target price on shares of Associated Banc from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 31st. Finally, ValuEngine raised shares of Associated Banc from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.30.

Shares of NYSE:ASB opened at $24.70 on Friday. The company has a market capitalization of $3,708.77, a P/E ratio of 15.98, a PEG ratio of 1.98 and a beta of 0.99. The company has a current ratio of 0.90, a quick ratio of 0.89 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.

In other news, insider Timothy J. Lau sold 19,558 shares of Associated Banc stock in a transaction on Monday, March 12th. The shares were sold at an average price of $26.75, for a total transaction of $523,176.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John A. Utz sold 12,865 shares of Associated Banc stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $26.75, for a total transaction of $344,138.75. Following the transaction, 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. In the last ninety days, insiders have sold 142,568 shares of company stock worth $3,621,898. Insiders own 2.13% of the company’s stock.

Several large investors have recently modified their holdings of the company. Landaas & Co. WI ADV lifted its holdings in shares of Associated Banc by 98.8% during the fourth quarter. Landaas & Co. WI ADV now owns 4,208 shares of the bank’s stock worth $107,000 after purchasing an additional 2,091 shares during the period. Zeke Capital Advisors LLC lifted its holdings in shares of Associated Banc by 12.3% during the fourth quarter. Zeke Capital Advisors LLC now owns 20,100 shares of the bank’s stock worth $511,000 after purchasing an additional 2,200 shares during the period. Flinton Capital Management LLC lifted its holdings in shares of Associated Banc by 26.4% during the fourth quarter. Flinton Capital Management LLC now owns 10,816 shares of the bank’s stock worth $275,000 after purchasing an additional 2,256 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Associated Banc by 47.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,773 shares of the bank’s stock worth $223,000 after purchasing an additional 2,842 shares during the period. Finally, AXA lifted its holdings in shares of Associated Banc by 9.9% during the fourth quarter. AXA now owns 34,300 shares of the bank’s stock worth $871,000 after purchasing an additional 3,100 shares during the period. Institutional investors own 77.51% of the company’s stock.

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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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