$306.08 Million in Sales Expected for Associated Banc Corp (NYSE:ASB) This Quarter

Analysts expect Associated Banc Corp (NYSE:ASB) to post sales of $306.08 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Associated Banc’s earnings, with the highest sales estimate coming in at $308.70 million and the lowest estimate coming in at $304.40 million. Associated Banc posted sales of $309.46 million during the same quarter last year, which suggests a negative year over year growth rate of 1.1%. The company is expected to announce its next earnings results on Thursday, July 23rd.

On average, analysts expect that Associated Banc will report full-year sales of $1.18 billion for the current year, with estimates ranging from $1.14 billion to $1.24 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.13 billion, with estimates ranging from $1.10 billion to $1.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Associated Banc.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.18. Associated Banc had a return on equity of 8.13% and a net margin of 18.59%. The firm had revenue of $305.33 million for the quarter, compared to analysts’ expectations of $293.74 million. During the same period last year, the business posted $0.50 earnings per share.

Several equities research analysts have weighed in on ASB shares. SunTrust Banks increased their target price on Associated Banc from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday. Royal Bank of Canada increased their target price on Associated Banc from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Raymond James raised Associated Banc from an “underperform” rating to a “market perform” rating in a research report on Thursday, February 20th. Wells Fargo & Co raised Associated Banc from an “underweight” rating to an “equal weight” rating and set a $15.00 target price on the stock in a research report on Monday, March 30th. Finally, Cfra dropped their target price on Associated Banc from $22.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, May 15th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $17.71.

In other Associated Banc news, Director Michael T. Crowley, Jr. purchased 5,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were bought at an average cost of $18.45 per share, with a total value of $92,250.00. Insiders have bought 27,000 shares of company stock worth $432,170 over the last three months. Corporate insiders own 2.38% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ASB. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Associated Banc during the 4th quarter worth about $36,000. FDx Advisors Inc. grew its holdings in shares of Associated Banc by 27.4% during the 1st quarter. FDx Advisors Inc. now owns 11,764 shares of the bank’s stock worth $36,000 after purchasing an additional 2,533 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Associated Banc by 247.5% during the 1st quarter. Meeder Asset Management Inc. now owns 3,270 shares of the bank’s stock worth $42,000 after purchasing an additional 2,329 shares in the last quarter. Johnson Financial Group Inc. grew its holdings in shares of Associated Banc by 48.2% during the 1st quarter. Johnson Financial Group Inc. now owns 3,458 shares of the bank’s stock worth $44,000 after purchasing an additional 1,125 shares in the last quarter. Finally, Neo Ivy Capital Management grew its holdings in shares of Associated Banc by 91.9% during the 4th quarter. Neo Ivy Capital Management now owns 2,308 shares of the bank’s stock worth $51,000 after purchasing an additional 1,105 shares in the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.

ASB traded down $0.10 during trading hours on Monday, hitting $13.05. 560,404 shares of the stock were exchanged, compared to its average volume of 1,386,580. The stock has a 50-day simple moving average of $12.94 and a 200-day simple moving average of $17.92. Associated Banc has a 12 month low of $10.23 and a 12 month high of $22.60. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.96 and a quick ratio of 0.94.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Friday, May 29th. Associated Banc’s dividend payout ratio (DPR) is 36.55%.

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. 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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Earnings History and Estimates for Associated Banc (NYSE:ASB)

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