Analysts Issue Forecasts for Associated Banc FY2024 Earnings

Associated Banc-Corp (NYSE:ASB) – Research analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Associated Banc in a report issued on Thursday, January 23rd. Zacks Research analyst R. Department now expects that the bank will earn $2.13 per share for the year, up from their previous forecast 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.

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

A number of other research analysts have also recently weighed in on ASB. Keefe, Bruyette & Woods lifted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday. Robert W. Baird dropped their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday. Piper Sandler lifted their target price on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.67.

Associated Banc Price Performance

NYSE ASB opened at $25.09 on Friday. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94. Associated Banc has a 12 month low of $19.40 and a 12 month high of $28.18. The company’s 50 day moving average is $25.22 and its two-hundred day moving average is $23.40. The company has a current ratio of 0.88, a quick 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. Stockholders of record on Monday, December 2nd were issued a $0.23 dividend. The ex-dividend date was Monday, December 2nd. 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 dividend yield of 3.67%. Associated Banc’s payout ratio is 76.67%.

Insider Activity

In other Associated Banc news, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction on Wednesday, October 30th. The shares were 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 of the company’s stock, valued at $2,423,934.76. The trade was a 15.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David L. Stein sold 29,536 shares of the business’s stock in a transaction that occurred 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 $2,222,406.03. This trade represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

A number of large investors have recently modified their holdings of ASB. Vanguard Personalized Indexing Management LLC lifted its position in shares of Associated Banc by 4.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock worth $234,000 after purchasing an additional 525 shares during the period. Intech Investment Management LLC bought a new position in Associated Banc in the second quarter worth approximately $415,000. Thrivent Financial for Lutherans lifted its holdings in Associated Banc by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock worth $1,072,000 after buying an additional 656 shares during the period. Cubist Systematic Strategies LLC boosted its position in Associated Banc by 43.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,313 shares of the bank’s stock valued at $599,000 after acquiring an additional 8,513 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Associated Banc by 12.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,149,355 shares of the bank’s stock valued at $24,309,000 after acquiring an additional 123,271 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

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.