Wall Street brokerages expect Associated Banc Corp (NYSE:ASB) to announce sales of $280.46 million for the current quarter, according to Zacks. Five analysts have provided estimates for Associated Banc’s earnings, with the highest sales estimate coming in at $284.90 million and the lowest estimate coming in at $277.00 million. Associated Banc reported sales of $272.32 million during the same quarter last year, which would suggest a positive year over year growth rate of 3%. The business is scheduled to report its next earnings results after the market closes on Thursday, January 25th.
On average, analysts expect that Associated Banc will report full year sales of $280.46 million for the current fiscal year. For the next financial year, analysts expect that the firm will report sales of $1.25 billion per share, with estimates ranging from $1.23 billion to $1.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Associated Banc.
Associated Banc (NYSE:ASB) last released its earnings results on Thursday, October 19th. The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The firm had revenue of $276.02 million for the quarter, compared to analysts’ expectations of $276.88 million. Associated Banc had a return on equity of 7.81% and a net margin of 19.54%. During the same quarter in the prior year, the firm posted $0.31 earnings per share.
Associated Banc (ASB) traded up $0.28 on Friday, hitting $26.20. The stock had a trading volume of 791,712 shares, compared to its average volume of 931,067. The company has a market capitalization of $3,960.00, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. Associated Banc has a 1 year low of $20.95 and a 1 year high of $26.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.89 and a current ratio of 0.90.
In other news, CFO Moral-Niles Christopher Del sold 1,476 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $26.00, for a total transaction of $38,376.00. Following the completion of the sale, the chief financial officer now owns 81,784 shares in the company, valued at approximately $2,126,384. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William R. Hutchinson sold 4,632 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $25.70, for a total value of $119,042.40. Following the completion of the transaction, the director now directly owns 91,209 shares in the company, valued at $2,344,071.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,876 shares of company stock valued at $1,570,505. Company insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its position in shares of Associated Banc by 1.0% in the 2nd quarter. Citigroup Inc. now owns 16,135 shares of the bank’s stock valued at $407,000 after acquiring an additional 155 shares during the period. Suntrust Banks Inc. increased its position in shares of Associated Banc by 3.5% in the 2nd quarter. Suntrust Banks Inc. now owns 20,192 shares of the bank’s stock valued at $508,000 after acquiring an additional 679 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of Associated Banc by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 45,582 shares of the bank’s stock valued at $1,149,000 after acquiring an additional 806 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Associated Banc by 0.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 184,963 shares of the bank’s stock valued at $4,661,000 after acquiring an additional 1,617 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Associated Banc by 11.6% in the 3rd quarter. Pacer Advisors Inc. now owns 20,892 shares of the bank’s stock valued at $507,000 after acquiring an additional 2,175 shares during the period. 77.38% of the stock is currently owned by hedge funds and other institutional investors.
About Associated Banc
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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