Associated Banc Corp (ASB) Expected to Announce Quarterly Sales of $279.35 Million
Analysts expect Associated Banc Corp (NYSE:ASB) to report $279.35 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Associated Banc’s earnings, with the lowest sales estimate coming in at $273.98 million and the highest estimate coming in at $284.90 million. Associated Banc reported sales of $272.32 million during the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The firm is expected to issue its next earnings results on Thursday, January 18th.
According to Zacks, analysts expect that Associated Banc will report full year sales of $279.35 million for the current fiscal year, with estimates ranging from $1.08 billion to $1.10 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.25 billion per share, with estimates ranging from $1.22 billion to $1.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Associated Banc.
Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $276.02 million during the quarter, compared to analyst estimates of $276.88 million. Associated Banc had a net margin of 19.54% and a return on equity of 7.81%. During the same quarter last year, the business posted $0.31 earnings per share.
In other news, CFO Moral-Niles Christopher Del sold 1,476 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $26.00, for a total value of $38,376.00. Following the completion of the transaction, the chief financial officer now owns 81,784 shares of the company’s stock, valued at approximately $2,126,384. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William M. Bohn sold 15,946 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $26.00, for a total transaction of $414,596.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,426 shares of company stock valued at $1,558,805 in the last ninety days. Company insiders own 1.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its holdings in shares of Associated Banc by 47.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 57,517 shares of the bank’s stock valued at $1,449,000 after buying an additional 18,435 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Associated Banc by 2.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,840,826 shares of the bank’s stock valued at $46,389,000 after buying an additional 38,996 shares during the period. Vanguard Group Inc. grew its holdings in shares of Associated Banc by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,739,124 shares of the bank’s stock valued at $321,025,000 after buying an additional 248,381 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Associated Banc in the 3rd quarter valued at $677,000. Finally, State of Tennessee Treasury Department grew its holdings in shares of Associated Banc by 20.0% in the 2nd quarter. State of Tennessee Treasury Department now owns 240,000 shares of the bank’s stock valued at $6,048,000 after buying an additional 40,000 shares during the period. 77.43% of the stock is owned by institutional investors.
Shares of Associated Banc (ASB) traded down $0.20 during trading on Friday, hitting $25.35. 702,509 shares of the company were exchanged, compared to its average volume of 910,747. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $3,869.82, a price-to-earnings ratio of 17.53, a P/E/G ratio of 2.44 and a beta of 1.19. Associated Banc has a fifty-two week low of $20.95 and a fifty-two week high of $26.70.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.3828 per share. This represents a $1.53 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date was Thursday, November 30th. Associated Banc’s dividend payout ratio is presently 38.36%.
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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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