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

Associated Banc (NYSE:ASB - Get Free Report) is projected to post its quarterly earnings results after the market closes on Thursday, January 23rd. Analysts expect Associated Banc to post earnings of $0.53 per share and revenue of $341,571.40 billion for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. The business had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same period in the prior year, the company earned $0.53 earnings per share. 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

NYSE ASB traded down $0.34 during trading hours on Thursday, reaching $25.03. The stock had a trading volume of 1,002,951 shares, compared to its average volume of 1,330,165. Associated Banc has a 52-week low of $19.40 and a 52-week high of $28.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $3.79 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 1.88 and a beta of 0.94. The stock has a fifty day moving average of $25.43 and a 200 day moving average of $23.21.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.68%. This is a positive change from Associated Banc's previous quarterly dividend of $0.22. Associated Banc's dividend payout ratio is presently 76.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ASB shares. Barclays upped their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their price target on Associated Banc from $24.00 to $26.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. Piper Sandler upped their price objective on Associated Banc from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $28.00 price objective on shares of Associated Banc in a research note on Thursday, December 5th. Finally, StockNews.com upgraded shares of Associated Banc from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Associated Banc has an average rating of "Hold" and an average price target of $26.00.

Insider Buying and Selling

In related news, EVP John A. Utz sold 19,044 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the completion of the transaction, the executive vice president now directly owns 100,204 shares of the company's stock, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the sale, the executive vice president now directly owns 81,021 shares in the company, valued at approximately $2,222,406.03. This trade represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by insiders.

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.