Associated Banc-Corp to Post FY2024 Earnings of $2.05 Per Share, Zacks Research Forecasts (NYSE:ASB)

Associated Banc-Corp (NYSE:ASB) – Equities researchers at Zacks Research lowered their FY2024 EPS estimates for Associated Banc in a research note issued to investors on Wednesday, September 11th. Zacks Research analyst R. Department now expects that the bank will earn $2.05 per share for the year, down from their previous estimate of $2.08. The consensus estimate for Associated Banc’s current full-year earnings is $2.07 per share. Zacks Research also issued estimates for Associated Banc’s Q4 2024 earnings at $0.52 EPS, FY2025 earnings at $2.29 EPS, Q1 2026 earnings at $0.55 EPS, Q2 2026 earnings at $0.58 EPS and FY2026 earnings at $2.33 EPS.

Several other analysts have also recently weighed in on ASB. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group reduced their target price on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Barclays reduced their price objective on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Finally, Baird R W lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.67.

Associated Banc Stock Up 3.9 %

ASB stock opened at $21.27 on Friday. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.24 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. Associated Banc has a 12 month low of $15.16 and a 12 month high of $24.21. The firm has a 50-day moving average of $21.86 and a two-hundred day moving average of $21.28.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The firm had revenue of $321.75 million during the quarter, compared to the consensus estimate of $330.69 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis.

Institutional Trading of Associated Banc

Several institutional investors have recently added to or reduced their stakes in ASB. Norges Bank acquired a new stake in shares of Associated Banc in the 4th quarter worth about $36,722,000. LSV Asset Management grew its position in Associated Banc by 43.3% in the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after buying an additional 1,224,216 shares in the last quarter. Millennium Management LLC boosted its position in shares of Associated Banc by 291.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after purchasing an additional 1,163,807 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Associated Banc by 50.2% during the 4th quarter. Verition Fund Management LLC now owns 2,181,042 shares of the bank’s stock valued at $46,652,000 after purchasing an additional 728,555 shares in the last quarter. Finally, M&G Plc bought a new position in shares of Associated Banc during the 1st quarter valued at about $8,057,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares in the company, valued at $2,269,730.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Randall J. Erickson sold 23,774 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the sale, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares in the company, valued at $2,269,730.86. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock valued at $757,214 over the last 90 days. Insiders own 1.45% of the company’s stock.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Tuesday, September 3rd. Associated Banc’s dividend payout ratio is presently 88.89%.

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.