Associated Banc (ASB) Issues Earnings Results

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Associated Banc (NYSE:ASB) posted its earnings results on Thursday. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49, Fidelity Earnings reports. The company had revenue of $307.69 million for the quarter, compared to analysts’ expectations of $321.04 million. Associated Banc had a return on equity of 9.52% and a net margin of 20.53%. During the same period last year, the business posted $0.34 earnings per share.

Shares of NYSE ASB opened at $23.02 on Friday. Associated Banc has a fifty-two week low of $22.99 and a fifty-two week high of $29.02. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47. The stock has a market cap of $4.22 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.74 and a beta of 0.95.

ASB has been the topic of a number of recent research reports. Morgan Stanley reiterated a “hold” rating and issued a $29.50 target price (down from $30.00) on shares of Associated Banc in a research note on Tuesday, September 18th. Robert W. Baird reiterated a “buy” rating and issued a $30.00 target price on shares of Associated Banc in a research note on Tuesday, July 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 target price on shares of Associated Banc in a research note on Friday, July 20th. ValuEngine cut Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Zacks Investment Research cut shares of Associated Banc from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Associated Banc currently has a consensus rating of “Hold” and an average price target of $28.05.

In other news, CFO Moral-Niles Christopher Del bought 2,000 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, with a total value of $50,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Flynn bought 115,000 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 $2,875,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 121,000 shares of company stock worth $3,025,000 and have sold 40,675 shares worth $1,135,267. 2.13% of the stock is owned by insiders.

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 for Associated Banc (NYSE:ASB)

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