FY2024 EPS Estimates for Associated Banc Raised by Analyst

Associated Banc-Corp (NYSE:ASB) – Equities researchers at Zacks Research lifted their FY2024 EPS estimates for Associated Banc in a research note issued to investors on Thursday, January 23rd. Zacks Research analyst R. Department now forecasts that the bank will post earnings per share of $2.13 for the year, up from their previous estimate of $2.12. The consensus estimate for Associated Banc’s current full-year earnings is $2.15 per share. Zacks Research also issued estimates for Associated Banc’s Q4 2024 earnings at $0.53 EPS.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company boosted their target price on Associated Banc from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Piper Sandler lifted their price target on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a research report on Friday. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and an average target price of $26.67.

Associated Banc Price Performance

Associated Banc stock opened at $25.09 on Friday. The stock has a fifty day moving average of $25.22 and a 200-day moving average of $23.42. The stock has a market capitalization of $3.79 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. Associated Banc has a 52 week low of $19.40 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Associated Banc by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock valued at $112,000 after buying an additional 455 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Associated Banc by 4.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock valued at $234,000 after acquiring an additional 525 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Associated Banc by 2.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank’s stock worth $419,000 after acquiring an additional 525 shares during the period. Truist Financial Corp boosted its position in Associated Banc by 2.4% in the second quarter. Truist Financial Corp now owns 27,082 shares of the bank’s stock worth $573,000 after purchasing an additional 636 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Associated Banc by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 656 shares during the period. Institutional investors own 82.98% of the company’s stock.

Insiders Place Their Bets

In related news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the transaction, the executive vice president now owns 100,204 shares of the company’s stock, 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. Corporate insiders own 1.45% of the company’s stock.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.23 per share. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Monday, December 2nd. Associated Banc’s dividend payout ratio is 76.67%.

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.