Associated Banc (ASB) Set to Announce Quarterly Earnings on Thursday

Associated Banc (NYSE:ASB) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $322.22 million for the quarter, compared to analysts’ expectations of $325.89 million. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. On average, analysts expect Associated Banc to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Associated Banc Stock Performance

ASB opened at $19.96 on Thursday. The stock has a market cap of $3.00 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $20.71 and its 200 day simple moving average is $19.59. Associated Banc has a 1-year low of $14.47 and a 1-year high of $22.16.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date was Thursday, February 29th. Associated Banc’s dividend payout ratio (DPR) is presently 77.88%.

Analyst Ratings Changes

Several brokerages recently weighed in on ASB. Wells Fargo & Company increased their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a research report on Tuesday, April 9th. Barclays began coverage on Associated Banc in a research report on Friday, March 8th. They issued an “equal weight” rating and a $22.00 target price on the stock. Raymond James increased their target price on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Piper Sandler increased their target price on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Associated Banc presently has a consensus rating of “Hold” and a consensus target price of $22.63.

Insider Buying and Selling

In related news, Director Eileen A. Kamerick sold 5,000 shares of Associated Banc stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the transaction, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Associated Banc news, EVP John A. Utz sold 14,010 shares of Associated Banc stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the transaction, the executive vice president now directly owns 89,880 shares in the company, valued at $1,905,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eileen A. Kamerick sold 5,000 shares of Associated Banc stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the transaction, the director now owns 50,126 shares of the company’s stock, valued at $1,053,648.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,710 shares of company stock worth $454,897. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its position in Associated Banc by 319.6% in the first quarter. Quarry LP now owns 2,140 shares of the bank’s stock worth $38,000 after buying an additional 1,630 shares during the last quarter. Point72 Europe London LLP acquired a new position in Associated Banc in the fourth quarter worth approximately $42,000. Coppell Advisory Solutions Corp. acquired a new position in Associated Banc in the fourth quarter worth approximately $47,000. KBC Group NV acquired a new position in Associated Banc in the fourth quarter worth approximately $65,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Associated Banc in the first quarter worth approximately $91,000. Institutional investors own 82.98% of the company’s stock.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.