Brokerages Anticipate Associated Banc Corp (ASB) to Announce $0.50 Earnings Per Share
Equities research analysts predict that Associated Banc Corp (NYSE:ASB) will post earnings of $0.50 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Associated Banc’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.52. Associated Banc posted earnings per share of $0.41 in the same quarter last year, which would suggest a positive year over year growth rate of 22%. The company is scheduled to announce its next earnings results on Thursday, October 18th.
On average, analysts expect that Associated Banc will report full year earnings of $2.03 per share for the current financial year, with EPS estimates ranging from $2.00 to $2.08. For the next year, analysts expect that the company will post earnings of $2.13 per share, with EPS estimates ranging from $2.04 to $2.24. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Associated Banc.
Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 19th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.05. Associated Banc had a net margin of 20.00% and a return on equity of 9.10%. The firm had revenue of $319.20 million for the quarter, compared to the consensus estimate of $316.63 million. During the same period in the prior year, the firm posted $0.36 earnings per share.
NYSE ASB traded up $0.20 during mid-day trading on Friday, reaching $26.50. 1,442,134 shares of the stock were exchanged, compared to its average volume of 909,014. Associated Banc has a 1 year low of $22.73 and a 1 year high of $29.02. The company has a market capitalization of $4.72 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.95.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, August 31st. Associated Banc’s dividend payout ratio is presently 39.47%.
In other Associated Banc news, insider Timothy J. Lau sold 19,834 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $28.08, for a total transaction of $556,938.72. Following the completion of the transaction, the insider now directly owns 69,098 shares in the company, valued at $1,940,271.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David L. Stein sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $27.72, for a total transaction of $138,600.00. Following the transaction, the insider now owns 38,574 shares of the company’s stock, valued at $1,069,271.28. The disclosure for this sale can be found here. Insiders have sold 40,675 shares of company stock valued at $1,135,267 over the last 90 days. 2.13% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ASB. HRT Financial LLC acquired a new stake in shares of Associated Banc in the second quarter valued at about $238,000. Nomura Holdings Inc. acquired a new stake in shares of Associated Banc in the second quarter valued at about $517,000. California Public Employees Retirement System raised its position in shares of Associated Banc by 10.1% in the second quarter. California Public Employees Retirement System now owns 496,615 shares of the bank’s stock valued at $13,558,000 after buying an additional 45,499 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Associated Banc in the second quarter valued at about $7,393,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Associated Banc in the second quarter valued at about $139,000. Institutional investors own 76.40% of the company’s stock.
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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