Associated Banc-Corp (NYSE:ASB) Forecasted to Post Q3 2024 Earnings of $0.49 Per Share

Associated Banc-Corp (NYSE:ASB) – Equities research analysts at Zacks Research reduced their Q3 2024 earnings per share estimates for Associated Banc in a report issued on Wednesday, September 11th. Zacks Research analyst R. Department now forecasts that the bank will earn $0.49 per share for the quarter, down from their prior estimate of $0.50. The consensus estimate for Associated Banc’s current full-year earnings is $2.07 per share. Zacks Research also issued estimates for Associated Banc’s Q3 2025 earnings at $0.59 EPS and Q4 2025 earnings at $0.61 EPS.

Other analysts also recently issued research reports about the company. Jefferies Financial Group dropped their price objective on Associated Banc from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Barclays cut their price objective on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Robert W. Baird lowered 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. Baird R W lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada increased their price objective on shares of Associated Banc from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.67.

Associated Banc Trading Down 2.2 %

ASB opened at $20.54 on Thursday. The firm’s fifty day moving average is $21.85 and its two-hundred day moving average is $21.28. The firm has a market cap of $3.10 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.93. Associated Banc has a twelve month low of $15.16 and a twelve month high of $24.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $321.75 million during the quarter, compared to analysts’ expectations of $330.69 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. Associated Banc’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is currently 88.89%.

Insider Buying and Selling at Associated Banc

In other news, EVP John A. Utz sold 2,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the transaction, the executive vice president now directly owns 99,637 shares in the company, valued at approximately $2,269,730.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Randall J. Erickson sold 23,774 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the transaction, the executive vice president now directly owns 128,680 shares in the company, valued at $2,958,353.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the sale, the executive vice president now owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASB. Norges Bank bought a new position in Associated Banc during the fourth quarter worth about $36,722,000. LSV Asset Management increased its holdings in shares of Associated Banc by 43.3% during the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock worth $87,133,000 after acquiring an additional 1,224,216 shares during the last quarter. Millennium Management LLC raised its stake in Associated Banc by 291.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after acquiring an additional 1,163,807 shares during the period. Verition Fund Management LLC lifted its holdings in Associated Banc by 50.2% during the 4th quarter. Verition Fund Management LLC now owns 2,181,042 shares of the bank’s stock valued at $46,652,000 after purchasing an additional 728,555 shares during the last quarter. Finally, M&G Plc bought a new position in Associated Banc during the first quarter worth $8,057,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.