Associated Banc (ASB) to Release Earnings on Thursday

Associated Banc (NYSE:ASB) is projected to announce its earnings results after the market closes on Thursday, January 23rd. Analysts expect the company to announce 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 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. The business had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter in the prior year, the company posted $0.53 EPS. 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 Trading Up 2.9 %

Shares of ASB opened at $25.40 on Thursday. The stock has a market capitalization of $3.84 billion, a P/E ratio of 21.17, a PEG 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. The firm has a fifty day simple moving average of $25.52 and a two-hundred day simple moving average of $23.18. Associated Banc has a twelve month low of $19.40 and a twelve month high of $28.18.

Associated Banc Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays increased their price target 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. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $28.00 target price on shares of Associated Banc in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their target price on shares of Associated Banc from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler lifted their target price on shares of Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

Insider Activity at Associated Banc

In related news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John A. Utz sold 19,044 shares of Associated Banc stock in a transaction dated 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 of the company’s stock, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by corporate insiders.

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.