Analysts expect that Associated Banc Corp (NYSE:ASB) will post $310.23 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Associated Banc’s earnings, with the highest sales estimate coming in at $320.30 million and the lowest estimate coming in at $305.00 million. Associated Banc posted sales of $308.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.7%. The business is scheduled to report its next quarterly earnings report on Thursday, January 23rd.
According to Zacks, analysts expect that Associated Banc will report full year sales of $1.24 billion for the current year, with estimates ranging from $1.23 billion to $1.26 billion. For the next financial year, analysts forecast that the business will report sales of $1.27 billion, with estimates ranging from $1.22 billion to $1.32 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Associated Banc.
Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Associated Banc had a net margin of 21.73% and a return on equity of 9.76%. The business had revenue of $307.00 million during the quarter, compared to analyst estimates of $312.55 million. During the same period last year, the firm posted $0.48 EPS. The company’s revenue was up .0% on a year-over-year basis.
ASB traded down $0.06 during trading on Thursday, reaching $20.23. 2,806,592 shares of the company traded hands, compared to its average volume of 902,322. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.91 and a current ratio of 0.92. Associated Banc has a 12-month low of $18.52 and a 12-month high of $23.84. The firm has a fifty day simple moving average of $20.04 and a 200 day simple moving average of $20.79. The company has a market cap of $3.29 billion, a P/E ratio of 9.97, a PEG ratio of 1.33 and a beta of 1.20.
In related news, CFO Moral-Niles Christopher Del sold 2,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $26.50, for a total value of $53,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John A. Utz sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $20.04, for a total transaction of $60,120.00. Following the completion of the transaction, the executive vice president now directly owns 59,348 shares of the company’s stock, valued at $1,189,333.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,698 shares of company stock valued at $422,887. Insiders own 2.69% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in shares of Associated Banc by 8.1% in the second quarter. Wells Fargo & Company MN now owns 2,489,109 shares of the bank’s stock valued at $52,620,000 after purchasing an additional 187,513 shares in the last quarter. LSV Asset Management lifted its position in Associated Banc by 20.6% in the second quarter. LSV Asset Management now owns 2,221,064 shares of the bank’s stock worth $46,953,000 after buying an additional 379,450 shares during the last quarter. Pzena Investment Management LLC lifted its position in Associated Banc by 1.2% in the second quarter. Pzena Investment Management LLC now owns 2,133,134 shares of the bank’s stock worth $45,094,000 after buying an additional 24,292 shares during the last quarter. Balyasny Asset Management LLC lifted its position in Associated Banc by 167.4% in the second 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 during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Associated Banc in the second quarter worth $35,221,000. 73.44% of the stock is owned by hedge funds and other institutional investors.
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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