Zacks Research Lowers Earnings Estimates for Associated Banc

Associated Banc-Corp (NYSE:ASB) – Stock analysts at Zacks Research cut their FY2024 earnings estimates for Associated Banc in a research note issued to investors on Thursday, October 17th. Zacks Research analyst R. Department now forecasts that the bank will post earnings of $2.04 per share for the year, down from their prior forecast of $2.05. The consensus estimate for Associated Banc’s current full-year earnings is $2.06 per share. Zacks Research also issued estimates for Associated Banc’s Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.57 EPS, FY2025 earnings at $2.25 EPS and Q3 2026 earnings at $0.59 EPS.

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

Other research analysts also recently issued reports about the company. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Barclays boosted their target price on shares of Associated Banc from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Jefferies Financial Group cut their price target on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Robert W. Baird lowered their price objective on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Baird R W cut shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.78.

Associated Banc Price Performance

NYSE:ASB opened at $22.85 on Friday. Associated Banc has a 52-week low of $15.16 and a 52-week high of $24.21. The company has a market cap of $3.45 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50-day simple moving average is $21.57 and its 200 day simple moving average is $21.40.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 3.85%. Associated Banc’s dividend payout ratio is currently 88.89%.

Insider Buying and Selling at Associated Banc

In other news, 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 owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP John A. Utz sold 2,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the completion of the sale, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,835 shares of company stock valued at $757,214 in the last three months. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Associated Banc by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock worth $334,522,000 after buying an additional 184,813 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Associated Banc by 37.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,938 shares of the bank’s stock worth $170,000 after purchasing an additional 2,156 shares in the last quarter. Steph & Co. grew its holdings in shares of Associated Banc by 470.2% during the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after purchasing an additional 964 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Associated Banc by 15.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 21,762 shares of the bank’s stock worth $468,000 after purchasing an additional 2,975 shares during the period. Finally, WoodTrust Financial Corp raised its stake in Associated Banc by 6.4% in the first quarter. WoodTrust Financial Corp now owns 16,311 shares of the bank’s stock valued at $351,000 after purchasing an additional 986 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

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.