Analysts Expect Associated Banc Corp (ASB) Will Announce Earnings of $0.50 Per Share

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Wall Street analysts forecast that Associated Banc Corp (NYSE:ASB) will announce $0.50 earnings per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Associated Banc’s earnings. The highest EPS estimate is $0.55 and the lowest is $0.45. Associated Banc reported earnings of $0.41 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 22%. The firm is expected to announce its next quarterly earnings report on Thursday, January 24th.

On average, analysts expect that Associated Banc will report full year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.08. For the next fiscal year, analysts anticipate that the company will report earnings of $2.10 per share, with EPS estimates ranging from $2.00 to $2.24. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Associated Banc.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, October 18th. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $307.69 million for the quarter, compared to the consensus estimate of $321.04 million. Associated Banc had a net margin of 20.00% and a return on equity of 9.10%. During the same period in the prior year, the firm earned $0.34 EPS.

Several analysts have recently commented on the stock. Sandler O’Neill downgraded shares of Associated Banc from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a report on Friday. Robert W. Baird dropped their price objective on shares of Associated Banc from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday. ValuEngine raised shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Associated Banc in a report on Friday, July 20th. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $29.50 price objective (down from $30.00) on shares of Associated Banc in a report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Associated Banc presently has an average rating of “Hold” and an average target price of $28.05.

Shares of ASB stock traded down $1.29 during trading hours on Friday, hitting $23.24. The company’s stock had a trading volume of 238,576 shares, compared to its average volume of 1,405,078. The company has a market capitalization of $4.36 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.95 and a quick ratio of 0.95. Associated Banc has a 12-month low of $23.25 and a 12-month high of $29.02.

In related news, insider David L. Stein sold 5,000 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $27.72, for a total transaction of $138,600.00. Following the sale, the insider now directly owns 38,574 shares of the company’s stock, valued at $1,069,271.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Hutchinson purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $100,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 121,000 shares of company stock worth $3,025,000 and have sold 40,675 shares worth $1,135,267. Corporate insiders own 2.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings in Associated Banc by 33.7% during the second quarter. Millennium Management LLC now owns 3,496,214 shares of the bank’s stock worth $95,447,000 after buying an additional 881,017 shares in the last quarter. Associated Banc Corp lifted its holdings in Associated Banc by 15.4% during the second quarter. Associated Banc Corp now owns 3,001,079 shares of the bank’s stock valued at $81,930,000 after purchasing an additional 401,111 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Associated Banc by 2.3% during the second quarter. Pzena Investment Management LLC now owns 2,239,624 shares of the bank’s stock valued at $61,142,000 after purchasing an additional 50,670 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Associated Banc by 0.5% during the second quarter. Wells Fargo & Company MN now owns 2,018,810 shares of the bank’s stock valued at $55,113,000 after purchasing an additional 9,366 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Associated Banc by 7.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,148,913 shares of the bank’s stock valued at $31,366,000 after purchasing an additional 80,684 shares in the last quarter. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

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

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