Zacks: Brokerages Expect Associated Banc-Corp (ASB) to Announce $0.38 EPS

Equities research analysts expect Associated Banc-Corp (NYSE:ASB) to report earnings of $0.38 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Associated Banc’s earnings, with estimates ranging from $0.37 to $0.40. Associated Banc posted earnings of $0.34 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.8%. The firm is expected to issue its next quarterly earnings report on Thursday, January 18th.

On average, analysts expect that Associated Banc will report full year earnings of $1.50 per share for the current fiscal year, with EPS estimates ranging from $1.48 to $1.52. For the next financial year, analysts anticipate that the company will post earnings of $1.60 per share, with EPS estimates ranging from $1.55 to $1.67. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Associated Banc.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. Associated Banc had a net margin of 19.54% and a return on equity of 7.81%. The company had revenue of $276.02 million during the quarter, compared to the consensus estimate of $276.88 million. During the same quarter in the previous year, the company posted $0.31 earnings per share.

Several equities research analysts recently weighed in on ASB shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Associated Banc in a report on Tuesday, August 22nd. Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Associated Banc in a report on Friday, August 25th. ValuEngine downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Friday, September 1st. DA Davidson upgraded shares of Associated Banc from an “underperform” rating to a “neutral” rating and set a $21.00 price target on the stock in a research report on Wednesday, September 6th. Finally, Jefferies Group reiterated a “hold” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.18.

Shares of Associated Banc (NYSE:ASB) traded down $0.15 on Friday, hitting $24.95. 965,500 shares of the stock traded hands, compared to its average volume of 903,497. Associated Banc has a 52 week low of $20.95 and a 52 week high of $26.70. The firm has a market capitalization of $3,794.24, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 2.39 and a beta of 1.19. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.3828 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.53 annualized dividend and a yield of 6.14%. Associated Banc’s dividend payout ratio (DPR) is presently 38.36%.

In related news, insider William M. Bohn sold 15,946 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $26.00, for a total value of $414,596.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $25.25, for a total value of $252,500.00. Following the completion of the sale, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at approximately $3,221,521.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,426 shares of company stock worth $1,558,805. Company insiders own 1.80% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC acquired a new position in Associated Banc during the third quarter worth $157,000. Public Employees Retirement System of Ohio grew its holdings in shares of Associated Banc by 88.2% during the third quarter. Public Employees Retirement System of Ohio now owns 150,213 shares of the bank’s stock worth $3,643,000 after purchasing an additional 70,385 shares during the last quarter. GSA Capital Partners LLP bought a new position in Associated Banc in the third quarter valued at about $1,545,000. California Public Employees Retirement System boosted its holdings in Associated Banc by 1.5% in the third quarter. California Public Employees Retirement System now owns 409,934 shares of the bank’s stock valued at $9,941,000 after acquiring an additional 6,249 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Associated Banc in the third quarter valued at about $385,000. Institutional investors own 77.45% of the company’s stock.

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About Associated Banc

Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.

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

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