Associated Banc (NYSE:ASB) Announces Quarterly Earnings Results

Associated Banc (NYSE:ASB) posted its quarterly earnings data on Thursday. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06, Briefing.com reports. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The company had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. During the same period in the previous year, the firm earned $0.53 earnings per share.

Associated Banc Price Performance

Shares of ASB stock opened at $22.93 on Friday. Associated Banc has a fifty-two week low of $15.59 and a fifty-two week high of $24.21. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50-day simple moving average is $21.79 and its 200-day simple moving average is $21.46.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.84%. Associated Banc’s payout ratio is 88.89%.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares in the company, valued at $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Randall J. Erickson sold 23,774 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the sale, the executive vice president now owns 128,680 shares in the company, valued at $2,958,353.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the sale, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,835 shares of company stock worth $757,214. Insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday. Barclays lifted their target price on Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday. Baird R W downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird decreased their price objective on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, Piper Sandler lifted their price objective on Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.89.

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. 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.