FY2024 EPS Estimates for Associated Banc-Corp (NYSE:ASB) Lowered by Analyst

Associated Banc-Corp (NYSE:ASB) – Stock analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for shares of Associated Banc in a report issued on Wednesday, September 11th. Zacks Research analyst R. Department now forecasts that the bank will post earnings per share of $2.05 for the year, down from their prior forecast of $2.08. 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 Q4 2024 earnings at $0.52 EPS, FY2025 earnings at $2.29 EPS, Q1 2026 earnings at $0.55 EPS, Q2 2026 earnings at $0.58 EPS and FY2026 earnings at $2.33 EPS.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $330.69 million. During the same quarter last year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis.

Other research analysts have also recently issued research reports about the company. Stephens restated an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Jefferies Financial Group decreased their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Piper Sandler upped their price objective on Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Robert W. Baird reduced their price objective on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.67.

Associated Banc Stock Up 3.9 %

ASB stock opened at $21.27 on Friday. The firm has a market cap of $3.21 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.24 and a beta of 0.93. The business has a 50 day moving average of $21.86 and a 200 day moving average of $21.28. Associated Banc has a twelve month low of $15.16 and a twelve month high of $24.21. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79.

Hedge Funds Weigh In On Associated Banc

A number of hedge funds have recently made changes to their positions in ASB. Norges Bank bought a new position in Associated Banc during the fourth quarter valued at approximately $36,722,000. LSV Asset Management boosted its stake in Associated Banc by 43.3% during the first quarter. LSV Asset Management now owns 4,050,813 shares of the bank’s stock valued at $87,133,000 after buying an additional 1,224,216 shares during the last quarter. Millennium Management LLC boosted its stake in Associated Banc by 291.3% during the second quarter. Millennium Management LLC now owns 1,563,274 shares of the bank’s stock valued at $33,063,000 after buying an additional 1,163,807 shares during the last quarter. Verition Fund Management LLC boosted its stake in Associated Banc by 50.2% during the fourth quarter. Verition Fund Management LLC now owns 2,181,042 shares of the bank’s stock valued at $46,652,000 after buying an additional 728,555 shares during the last quarter. Finally, M&G Plc bought a new position in Associated Banc during the first quarter valued at approximately $8,057,000. Institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Randall J. Erickson sold 23,774 shares of the company’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 transaction, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $22.78, for a total value of $45,560.00. Following the completion of the transaction, the executive vice president now directly 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. Over the last quarter, insiders sold 33,835 shares of company stock valued at $757,214. Company insiders own 1.45% of the company’s stock.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, September 3rd. Associated Banc’s dividend payout ratio is presently 88.89%.

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.