Associated Banc FY2024 EPS Estimate Raised by Zacks Research

Associated Banc-Corp (NYSE:ASB - Free Report) - Analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of Associated Banc in a note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $2.12 for the year, up from their prior estimate of $2.04. The consensus estimate for Associated Banc's current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Associated Banc's Q1 2025 earnings at $0.53 EPS, FY2025 earnings at $2.27 EPS and Q3 2026 earnings at $0.62 EPS.

A number of other brokerages also recently issued reports on ASB. Robert W. Baird cut their target price on Associated Banc from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. Piper Sandler raised their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Friday, July 26th. Stephens reissued an "equal weight" rating and set a $24.00 target price on shares of Associated Banc in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Friday, July 26th. Finally, StockNews.com upgraded Associated Banc from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $23.89.

Associated Banc Price Performance

Shares of NYSE ASB traded down $0.05 during mid-day trading on Monday, reaching $26.55. The company's stock had a trading volume of 4,896,982 shares, compared to its average volume of 1,412,284. The stock has a market capitalization of $4.02 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. Associated Banc has a 1-year low of $17.30 and a 1-year high of $28.18. The stock has a 50-day moving average of $22.92 and a two-hundred day moving average of $22.01.

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

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Associated Banc's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, December 2nd. Associated Banc's dividend payout ratio is 76.67%.

Insiders Place Their Bets

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now directly owns 54,114 shares of the company's stock, valued at $1,108,254.72. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 2,000 shares of the firm'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 transaction of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. This trade represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,641 shares of company stock worth $1,481,496. 1.45% of the stock is owned by corporate insiders.

Institutional Trading of Associated Banc

A number of hedge funds have recently added to or reduced their stakes in ASB. State Board of Administration of Florida Retirement System increased its stake in Associated Banc by 71.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank's stock worth $1,591,000 after acquiring an additional 30,732 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Associated Banc by 6.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 104,008 shares of the bank's stock worth $2,237,000 after purchasing an additional 6,149 shares during the period. Seven Eight Capital LP acquired a new stake in Associated Banc during the first quarter worth about $349,000. Bessemer Group Inc. raised its position in shares of Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank's stock worth $26,000 after purchasing an additional 907 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Associated Banc in the first quarter valued at $350,000. 82.98% of the stock is owned by institutional investors and hedge funds.

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.