Associated Banc-Corp (NYSE:ASB – Get Rating) – Analysts at Zacks Research increased their FY2022 earnings per share estimates for Associated Banc in a research report issued on Monday, September 19th. Zacks Research analyst S. Shah now forecasts that the bank will post earnings per share of $2.17 for the year, up from their prior forecast of $2.15. The consensus estimate for Associated Banc's current full-year earnings is $2.19 per share. Zacks Research also issued estimates for Associated Banc's Q4 2022 earnings at $0.59 EPS, Q1 2023 earnings at $0.55 EPS, Q2 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.58 EPS, FY2023 earnings at $2.28 EPS, Q1 2024 earnings at $0.61 EPS, Q2 2024 earnings at $0.58 EPS and FY2024 earnings at $2.39 EPS.
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Associated Banc (NYSE:ASB – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The bank reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.12. The business had revenue of $296.32 million for the quarter, compared to analyst estimates of $281.69 million. Associated Banc had a return on equity of 8.63% and a net margin of 28.30%. During the same period last year, the company posted $0.56 earnings per share.
A number of other analysts have also commented on the company. Wells Fargo & Company lifted their price target on Associated Banc to $28.00 in a report on Friday, July 22nd. Stephens lifted their price target on Associated Banc to $23.00 in a report on Tuesday, August 23rd. Finally, Jefferies Financial Group dropped their price target on Associated Banc from $23.00 to $20.00 in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.67.
Associated Banc Stock Performance
Shares of Associated Banc stock opened at $21.11 on Wednesday. The business's fifty day simple moving average is $20.31 and its 200 day simple moving average is $20.59. The firm has a market capitalization of $3.17 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04. Associated Banc has a 12 month low of $17.45 and a 12 month high of $25.78. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.93.
Institutional Trading of Associated Banc
Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Associated Banc by 2.4% in the second quarter. Bank of Montreal Can now owns 22,085 shares of the bank's stock valued at $420,000 after buying an additional 513 shares during the period. Eaton Vance Management grew its position in shares of Associated Banc by 1.1% in the first quarter. Eaton Vance Management now owns 46,341 shares of the bank's stock valued at $1,054,000 after purchasing an additional 526 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Associated Banc by 5.4% in the second quarter. Captrust Financial Advisors now owns 10,458 shares of the bank's stock valued at $191,000 after purchasing an additional 535 shares in the last quarter. US Bancorp DE grew its position in shares of Associated Banc by 0.8% in the first quarter. US Bancorp DE now owns 74,429 shares of the bank's stock valued at $1,694,000 after purchasing an additional 561 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Associated Banc by 1.2% in the second quarter. SG Americas Securities LLC now owns 46,972 shares of the bank's stock valued at $858,000 after purchasing an additional 566 shares in the last quarter. 81.06% of the stock is currently owned by institutional investors.
Associated Banc Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.79%. Associated Banc's payout ratio is presently 38.46%.
Associated Banc Company Profile
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Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.
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