Associated Banc-Corp (ASB) Expected to Announce Quarterly Sales of $293.78 Million
Wall Street analysts expect that Associated Banc-Corp (NYSE:ASB) will announce $293.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Associated Banc’s earnings, with estimates ranging from $289.12 million to $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 firm is expected to report its next quarterly earnings results after the market closes on Thursday, April 19th.
According to Zacks, analysts expect that Associated Banc will report full year sales of $1.23 billion for the current fiscal year, with estimates ranging from $1.21 billion to $1.24 billion. For the next fiscal year, analysts expect 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 an average based on a survey of sell-side research analysts that that provide coverage for Associated Banc.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). The company had revenue of $272.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share.
Shares of Associated Banc stock opened at $24.70 on Friday. The company has a market capitalization of $3,708.77, a P/E ratio of 15.98, a P/E/G ratio of 1.98 and a beta of 0.99. 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 52 week low of $20.95 and a 52 week high of $27.20.
In other Associated Banc news, EVP John A. Utz sold 12,865 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 42,384 shares of the company’s stock, valued at approximately $1,133,772. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy J. Lau sold 19,558 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $26.75, for a total transaction of $523,176.50. The disclosure for this sale can be found here. Insiders have sold a total of 142,568 shares of company stock valued at $3,621,898 over the last three months. 2.13% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Landaas & Co. WI ADV grew its stake in shares of Associated Banc by 98.8% during the 4th 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. QS Investors LLC grew its stake in shares of Associated Banc by 1,369.9% during the 4th quarter. QS Investors LLC now owns 5,027 shares of the bank’s stock worth $128,000 after purchasing an additional 4,685 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Associated Banc during the 3rd quarter worth approximately $157,000. Savant Capital LLC acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $202,000. Finally, JOYN Advisors Inc. acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $209,000. 77.51% of the stock is owned by institutional investors.
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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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