Analysts predict that Associated Banc Corp (NYSE:ASB) will report sales of $315.88 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Associated Banc’s earnings, with the lowest sales estimate coming in at $310.60 million and the highest estimate coming in at $320.90 million. Associated Banc reported sales of $307.69 million during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The firm is scheduled to issue its next earnings results on Thursday, October 17th.
On average, 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 forecast that the business will post sales of $1.31 billion, with estimates ranging from $1.28 billion to $1.35 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Associated Banc.
Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Associated Banc had a return on equity of 9.86% and a net margin of 22.01%. The firm had revenue of $309.46 million during the quarter, compared to the consensus estimate of $315.84 million. During the same period last year, the business posted $0.53 EPS.
In related news, CFO Moral-Niles Christopher Del sold 3,972 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $20.28, for a total value of $80,552.16. Following the transaction, the chief financial officer now owns 52,808 shares of the company’s stock, valued at approximately $1,070,946.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher C. Piotrowski sold 10,726 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 40,276 shares in the company, valued at approximately $860,698.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,698 shares of company stock worth $362,767 in the last three months. Insiders own 2.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ASB. Nuveen Asset Management LLC bought a new position in Associated Banc in the 2nd quarter valued at about $35,221,000. Balyasny Asset Management LLC lifted its position in shares of Associated Banc by 167.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,840,627 shares of the bank’s stock worth $38,911,000 after buying an additional 1,152,212 shares in the last quarter. LSV Asset Management lifted its position in shares of Associated Banc by 34.3% during the 1st quarter. LSV Asset Management now owns 1,841,614 shares of the bank’s stock worth $39,318,000 after buying an additional 470,500 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Associated Banc during the 1st quarter worth approximately $8,537,000. Finally, Renaissance Technologies LLC lifted its position in shares of Associated Banc by 621.5% during the 2nd quarter. Renaissance Technologies LLC now owns 433,631 shares of the bank’s stock worth $9,167,000 after buying an additional 373,531 shares in the last quarter. 74.46% of the stock is currently owned by institutional investors and hedge funds.
Associated Banc stock traded down $0.57 during trading hours on Friday, reaching $18.87. 830,449 shares of the company’s stock were exchanged, compared to its average volume of 1,289,077. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm’s 50 day simple moving average is $20.48 and its 200 day simple moving average is $21.63. Associated Banc has a twelve month low of $18.53 and a twelve month high of $27.95. The firm has a market capitalization of $3.06 billion, a PE ratio of 9.30, a PEG ratio of 1.25 and a beta of 1.17.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.60%. Associated Banc’s dividend payout ratio (DPR) is presently 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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