Brokers Set Expectations for Associated Banc-Corp’s Q3 2024 Earnings (NYSE:ASB)

Associated Banc-Corp (NYSE:ASB) – Research analysts at Zacks Research lowered their Q3 2024 earnings estimates for Associated Banc in a research report issued to clients and investors on Wednesday, September 11th. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $0.49 for the quarter, down from their prior forecast 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.

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

A number of other brokerages have also issued reports on ASB. Barclays dropped their price objective on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Stephens restated an “equal weight” rating and issued a $24.00 price objective on shares of Associated Banc in a report on Tuesday, July 30th. Piper Sandler lifted their target price on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Baird R W cut Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and an average target price of $23.67.

Associated Banc Stock Performance

Shares of ASB stock opened at $20.47 on Thursday. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.32 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The business’s 50-day moving average price is $21.85 and its 200-day moving average price is $21.27. Associated Banc has a 12 month low of $15.16 and a 12 month high of $24.21.

Institutional Investors Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently modified their holdings of ASB. Vanguard Group Inc. increased its stake in Associated Banc by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after purchasing an additional 184,813 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Associated Banc by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,835,562 shares of the bank’s stock worth $231,776,000 after acquiring an additional 229,552 shares during the last quarter. LSV Asset Management lifted its position in Associated Banc by 43.3% in the 1st quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after acquiring an additional 1,224,216 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Associated Banc by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,254,457 shares of the bank’s stock valued at $48,223,000 after purchasing an additional 40,111 shares during the last quarter. Finally, Verition Fund Management LLC increased 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 worth $46,652,000 after purchasing an additional 728,555 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Insider Activity

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 stock was 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 in the company, valued at $1,108,254.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the sale, the executive vice president now directly owns 128,680 shares in the company, valued at approximately $2,958,353.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now directly owns 54,114 shares in the company, valued at $1,108,254.72. The disclosure for this sale can be found here. Insiders have sold 33,835 shares of company stock valued at $757,214 in the last ninety days. 1.45% of the stock is owned by company insiders.

Associated Banc Dividend Announcement

The firm 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 $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

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. 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.