Brokerages Expect Associated Banc Corp (NYSE:ASB) Will Post Quarterly Sales of $314.02 Million
Brokerages forecast that Associated Banc Corp (NYSE:ASB) will post sales of $314.02 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Associated Banc’s earnings, with estimates ranging from $310.60 million to $319.10 million. Associated Banc posted sales of $307.69 million during the same quarter last year, which suggests a positive year over year growth rate of 2.1%. The business is scheduled to issue its next earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Associated Banc will report full year sales of $1.25 billion for the current year, with estimates ranging from $1.23 billion to $1.26 billion. For the next year, analysts expect that the company will post sales of $1.30 billion, with estimates ranging from $1.27 billion to $1.35 billion. Zacks’ 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 data on Thursday, July 25th. The bank reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The firm had revenue of $309.46 million for the quarter, compared to analysts’ expectations of $315.84 million. Associated Banc had a net margin of 22.01% and a return on equity of 9.86%. During the same period in the prior year, the firm earned $0.53 earnings per share.
Shares of NYSE:ASB traded up $0.31 during trading on Friday, reaching $20.35. The stock had a trading volume of 58,021 shares, compared to its average volume of 804,211. The stock has a market capitalization of $3.19 billion, a PE ratio of 10.02, a P/E/G ratio of 1.27 and a beta of 1.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.91. Associated Banc has a 52 week low of $18.52 and a 52 week high of $27.88. The business’s 50-day moving average price is $19.86 and its 200 day moving average price is $21.30.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, August 30th. Associated Banc’s dividend payout ratio is currently 33.50%.
In other news, CFO Moral-Niles Christopher Del sold 3,972 shares of Associated Banc stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $20.28, for a total value of $80,552.16. Following the sale, the chief financial officer now directly owns 52,808 shares in the company, valued at $1,070,946.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher C. Piotrowski sold 10,726 shares of Associated Banc stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $21.37, for a total transaction of $229,214.62. Following the completion of the sale, the insider now owns 40,276 shares in the company, valued at $860,698.12. The disclosure for this sale can be found here. Insiders sold a total of 16,698 shares of company stock valued at $362,767 in the last 90 days. Corporate insiders own 2.69% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ASB. Nisa Investment Advisors LLC acquired a new stake in Associated Banc during the 2nd quarter worth about $67,000. Avestar Capital LLC purchased a new stake in shares of Associated Banc during the second quarter worth about $150,000. Neo Ivy Capital Management bought a new stake in shares of Associated Banc in the second quarter worth about $181,000. Qube Research & Technologies Ltd bought a new stake in shares of Associated Banc in the second quarter worth about $201,000. Finally, Isthmus Partners LLC increased its holdings in Associated Banc by 99.7% during the 2nd quarter. Isthmus Partners LLC now owns 10,053 shares of the bank’s stock valued at $213,000 after purchasing an additional 5,020 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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