Zacks: Analysts Expect Associated Banc-Corp (ASB) to Post $0.36 Earnings Per Share
Analysts expect that Associated Banc-Corp (NYSE:ASB) will report $0.36 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Associated Banc-Corp’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.37. Associated Banc-Corp reported earnings of $0.31 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 16.1%. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, July 20th.
According to Zacks, analysts expect that Associated Banc-Corp will report full year earnings of $1.43 per share for the current fiscal year, with EPS estimates ranging from $1.37 to $1.47. For the next financial year, analysts forecast that the business will report earnings of $1.59 per share, with EPS estimates ranging from $1.54 to $1.61. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Associated Banc-Corp.
Associated Banc-Corp (NYSE:ASB) last announced its earnings results on Thursday, April 20th. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. Associated Banc-Corp had a return on equity of 7.20% and a net margin of 18.36%. The company had revenue of $260.11 million for the quarter, compared to analyst estimates of $266.24 million. During the same period in the prior year, the company posted $0.27 EPS.
A number of analysts have issued reports on ASB shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 target price on shares of Associated Banc-Corp in a report on Sunday, June 11th. Zacks Investment Research lowered Associated Banc-Corp from a “buy” rating to a “hold” rating in a report on Friday, April 7th. SunTrust Banks, Inc. raised Associated Banc-Corp from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. BidaskClub upgraded Associated Banc-Corp from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.00 price objective on shares of Associated Banc-Corp in a research report on Thursday, March 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.86.
In other news, insider James Yee sold 2,330 shares of Associated Banc-Corp stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $25.46, for a total value of $59,321.80. Following the completion of the sale, the insider now directly owns 69,852 shares of the company’s stock, valued at approximately $1,778,431.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Philip B. Flynn sold 10,000 shares of Associated Banc-Corp stock in a transaction on Monday, May 1st. The shares were sold at an average price of $24.81, for a total value of $248,100.00. Following the completion of the sale, the chief executive officer now directly owns 127,585 shares of the company’s stock, valued at $3,165,383.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,330 shares of company stock valued at $508,302. Corporate insiders own 1.80% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC boosted its stake in shares of Associated Banc-Corp by 61.0% in the first quarter. Acrospire Investment Management LLC now owns 4,830 shares of the bank’s stock worth $118,000 after buying an additional 1,830 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of Associated Banc-Corp by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the bank’s stock worth $156,000 after buying an additional 30 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Associated Banc-Corp during the first quarter worth approximately $210,000. Envestnet Asset Management Inc. boosted its stake in shares of Associated Banc-Corp by 14.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,195 shares of the bank’s stock worth $224,000 after buying an additional 1,147 shares during the period. Finally, World Asset Management Inc boosted its stake in shares of Associated Banc-Corp by 3.5% in the first quarter. World Asset Management Inc now owns 9,393 shares of the bank’s stock worth $229,000 after buying an additional 317 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.
Shares of Associated Banc-Corp (ASB) traded down 0.300% during trading on Monday, hitting $24.925. The company’s stock had a trading volume of 48,338 shares. The firm’s 50 day moving average is $24.56 and its 200-day moving average is $24.85. Associated Banc-Corp has a 1-year low of $17.52 and a 1-year high of $26.70. The company has a market capitalization of $3.78 billion, a P/E ratio of 18.601 and a beta of 1.17.
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Associated Banc-Corp Company Profile
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
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