Associated Banc-Corp (ASB) Scheduled to Post Earnings on Thursday
Associated Banc-Corp (NYSE:ASB) will be posting its quarterly earnings results after the market closes on Thursday, October 19th. Analysts expect Associated Banc-Corp to post earnings of $0.37 per share for the quarter.
Associated Banc-Corp (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. Associated Banc-Corp had a return on equity of 7.43% and a net margin of 18.78%. The company had revenue of $266.23 million for the quarter, compared to analyst estimates of $273.29 million. During the same quarter in the prior year, the company posted $0.31 EPS. On average, analysts expect Associated Banc-Corp to post $1.43 EPS for the current fiscal year and $1.55 EPS for the next fiscal year.
Associated Banc-Corp (NYSE ASB) opened at 24.65 on Thursday. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 17.73 and a beta of 1.20. The firm’s 50 day moving average price is $23.06 and its 200-day moving average price is $23.97. Associated Banc-Corp has a 52 week low of $18.85 and a 52 week high of $26.70.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, August 30th. Associated Banc-Corp’s dividend payout ratio is 34.53%.
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In other news, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $23.61, for a total transaction of $236,100.00. Following the transaction, the chief executive officer now owns 127,585 shares in the company, valued at approximately $3,012,281.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John A. Utz sold 8,054 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $23.62, for a total transaction of $190,235.48. Following the transaction, the insider now owns 44,405 shares in the company, valued at approximately $1,048,846.10. The disclosure for this sale can be found here. Insiders have sold a total of 38,772 shares of company stock valued at $914,334 in the last three months. Company insiders own 1.80% of the company’s stock.
A number of equities research analysts have issued reports on ASB shares. BidaskClub lowered shares of Associated Banc-Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley reissued an “equal weight” rating and set a $25.00 target price (up previously from $24.00) on shares of Associated Banc-Corp in a research note on Thursday, July 6th. Royal Bank Of Canada reissued a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 7th. Jefferies Group LLC reissued a “hold” rating and set a $27.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 14th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $26.00 target price on shares of Associated Banc-Corp in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.40.
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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