Zacks: Brokerages Expect Associated Banc Corp (ASB) to Post $0.50 Earnings Per Share
Equities research analysts expect that Associated Banc Corp (NYSE:ASB) will announce earnings per share of $0.50 for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Associated Banc’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.48. Associated Banc also reported earnings per share of $0.50 during the same quarter last year. The firm is expected to report its next earnings report on Thursday, July 18th.
On average, analysts expect that Associated Banc will report full year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.10. For the next financial year, analysts forecast that the firm will post earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.29. Zacks’ EPS averages are an average based on a survey of analysts that cover Associated Banc.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $0.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.50. The firm had revenue of $306.75 million during the quarter, compared to analyst estimates of $312.90 million. Associated Banc had a net margin of 22.56% and a return on equity of 9.87%. During the same period in the previous year, the business posted $0.40 EPS.
In related news, insider David L. Stein sold 5,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $23.12, for a total transaction of $115,600.00. Following the completion of the sale, the insider now directly owns 49,685 shares in the company, valued at approximately $1,148,717.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $22.89, for a total transaction of $228,900.00. Following the sale, the chief executive officer now owns 218,996 shares of the company’s stock, valued at $5,012,818.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,560 shares of company stock valued at $768,243. Company insiders own 2.69% of the company’s stock.
A number of large investors have recently bought and sold shares of ASB. Fort L.P. bought a new stake in Associated Banc during the 4th quarter valued at $25,000. Executive Wealth Management LLC bought a new stake in Associated Banc during the 1st quarter valued at $25,000. Pearl River Capital LLC bought a new stake in Associated Banc during the 4th quarter valued at $43,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Associated Banc by 81.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,057 shares of the bank’s stock valued at $45,000 after buying an additional 925 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Associated Banc by 1,937.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,354,645 shares of the bank’s stock valued at $68,000 after buying an additional 1,288,143 shares during the last quarter. Institutional investors own 75.59% of the company’s stock.
Shares of ASB traded down $0.33 during mid-day trading on Thursday, reaching $21.93. The company’s stock had a trading volume of 758,646 shares, compared to its average volume of 1,091,412. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.55 and a beta of 1.12. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.91. Associated Banc has a 52 week low of $18.53 and a 52 week high of $29.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.10%. Associated Banc’s payout ratio is 33.50%.
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. 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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