Associated Banc (NYSE:ASB) Issues Earnings Results, Beats Expectations By $0.06 EPS

Associated Banc (NYSE:ASB) posted its quarterly earnings results on Thursday. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $336.52 million. During the same period last year, the firm earned $0.53 EPS.

Associated Banc Trading Up 0.7 %

ASB stock traded up $0.16 during midday trading on Friday, hitting $22.84. The stock had a trading volume of 1,003,617 shares, compared to its average volume of 1,330,317. The firm has a market cap of $3.44 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. Associated Banc has a 12-month low of $15.59 and a 12-month high of $24.21. The company’s 50-day moving average price is $21.76 and its 200 day moving average price is $21.45.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 3.85%. Associated Banc’s dividend payout ratio is currently 88.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ASB shares. Stephens reiterated an “equal weight” rating and set a $24.00 price target on shares of Associated Banc in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Jefferies Financial Group reduced their price target on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Robert W. Baird reduced their price target on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Barclays lifted their price objective on Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Associated Banc presently has an average rating of “Hold” and an average price target of $23.89.

Insiders Place Their Bets

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now directly owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Associated Banc news, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction that occurred on Thursday, August 29th. The shares were 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 directly owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lith Karen Van sold 8,061 shares of the business’s stock in a transaction on 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,835 shares of company stock valued at $757,214. Company insiders own 1.45% of the company’s stock.

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.