Associated Banc Corp (ASB) Expected to Announce Earnings of $0.50 Per Share
Wall Street brokerages expect Associated Banc Corp (NYSE:ASB) to announce $0.50 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Associated Banc’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.52. Associated Banc also reported earnings per share of $0.50 during the same quarter last year. The company is scheduled to report its next quarterly earnings results on Thursday, July 18th.
On average, analysts expect that Associated Banc will report full year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.10. For the next year, analysts anticipate that the company will post earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.29. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Associated Banc.
Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $306.75 million during the quarter, compared to analysts’ expectations of $312.90 million. Associated Banc had a return on equity of 9.87% and a net margin of 22.56%. During the same quarter in the prior year, the firm posted $0.40 EPS.
Associated Banc stock opened at $22.01 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.55 and a beta of 1.12. Associated Banc has a 12 month low of $18.53 and a 12 month high of $29.02.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.68 annualized dividend and a yield of 3.09%. Associated Banc’s dividend payout ratio (DPR) is 33.50%.
In other news, insider David L. Stein sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $22.36, for a total value of $134,160.00. Following the sale, the insider now directly owns 58,533 shares in the company, valued at approximately $1,308,797.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David L. Stein sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $23.12, for a total value of $115,600.00. Following the completion of the sale, the insider now owns 49,685 shares in the company, valued at $1,148,717.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,441 shares of company stock valued at $997,186. Insiders own 2.69% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ASB. Fort L.P. bought a new stake in Associated Banc during the 4th quarter worth approximately $25,000. Executive Wealth Management LLC bought a new stake in Associated Banc during the 1st quarter worth approximately $25,000. Pearl River Capital LLC bought a new stake in Associated Banc during the 4th quarter worth approximately $43,000. Ladenburg Thalmann Financial Services Inc. grew its position in Associated Banc by 81.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,057 shares of the bank’s stock worth $45,000 after acquiring an additional 925 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Associated Banc by 1,937.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,354,645 shares of the bank’s stock worth $68,000 after acquiring an additional 1,288,143 shares during the last quarter. Institutional investors own 75.59% 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. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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