Wall Street analysts expect Associated Banc Corp (NYSE:ASB) to report sales of $300.60 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Associated Banc’s earnings, with estimates ranging from $294.10 million to $307.40 million. Associated Banc posted sales of $308.00 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.4%. The company is scheduled to announce its next quarterly earnings report on Thursday, January 23rd.
According to Zacks, analysts expect that Associated Banc will report full-year sales of $1.23 billion for the current year, with estimates ranging from $1.22 billion to $1.25 billion. For the next year, analysts forecast that the firm will report sales of $1.22 billion, with estimates ranging from $1.20 billion to $1.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Associated Banc.
Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $307.00 million for the quarter, compared to analyst estimates of $312.55 million. Associated Banc had a return on equity of 9.71% and a net margin of 21.73%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share.
In other Associated Banc news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $20.48, for a total transaction of $40,960.00. Following the transaction, the executive vice president now owns 56,745 shares of the company’s stock, valued at approximately $1,162,137.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John P. Hankerd sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $21.75, for a total value of $65,250.00. Following the transaction, the executive vice president now directly owns 21,566 shares in the company, valued at approximately $469,060.50. The disclosure for this sale can be found here. Insiders have sold 53,281 shares of company stock worth $1,147,056 in the last quarter. 2.69% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Associated Banc by 4.2% in the second quarter. Royal Bank of Canada now owns 18,187 shares of the bank’s stock valued at $385,000 after buying an additional 731 shares during the last quarter. Arizona State Retirement System raised its stake in Associated Banc by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 118,958 shares of the bank’s stock valued at $2,515,000 after acquiring an additional 953 shares during the period. Alps Advisors Inc. raised its stake in Associated Banc by 6.1% in the 3rd quarter. Alps Advisors Inc. now owns 17,766 shares of the bank’s stock valued at $360,000 after acquiring an additional 1,014 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Associated Banc by 11.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,751 shares of the bank’s stock valued at $218,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Associated Banc by 8.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,534 shares of the bank’s stock valued at $349,000 after purchasing an additional 1,232 shares during the last quarter. Institutional investors own 73.30% of the company’s stock.
NYSE:ASB opened at $21.62 on Monday. The stock has a 50-day simple moving average of $21.14 and a 200 day simple moving average of $20.55. Associated Banc has a 52-week low of $18.52 and a 52-week high of $23.83. The company has a market cap of $3.41 billion, a PE ratio of 10.65, a PEG ratio of 1.39 and a beta of 1.21. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.93 and a current ratio of 0.94.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Associated Banc’s previous quarterly dividend of $0.17. Associated Banc’s payout ratio is currently 35.47%.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses 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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