Associated Banc (ASB) to Release Earnings on Thursday

Associated Banc (NYSE:ASB) is projected to release its earnings data after the market closes on Thursday, January 23rd. Analysts expect Associated Banc to post earnings of $0.53 per share and revenue of $341,571.40 billion for the quarter.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The firm had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. During the same period in the previous year, the business posted $0.53 earnings per share. On average, analysts expect Associated Banc to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Associated Banc Stock Performance

Shares of ASB stock opened at $25.40 on Thursday. The company has a 50 day moving average price of $25.52 and a 200-day moving average price of $23.18. Associated Banc has a 52 week low of $19.40 and a 52 week high of $28.18. The firm has a market capitalization of $3.84 billion, a PE ratio of 21.17, a P/E/G ratio of 1.90 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.62%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, December 2nd. Associated Banc’s payout ratio is 76.67%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays boosted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their target price on shares of Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $28.00 target price on shares of Associated Banc in a research report on Thursday, December 5th. Piper Sandler boosted their target price on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Associated Banc presently has an average rating of “Hold” and a consensus target price of $26.00.

Insider Transactions at Associated Banc

In other news, EVP David L. Stein sold 29,536 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the transaction, the executive vice president now owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.45% 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 in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.