FY2024 EPS Estimate for Associated Banc Increased by Analyst

Associated Banc-Corp (NYSE:ASB) – Zacks Research boosted their FY2024 earnings estimates for shares of Associated Banc in a research report issued on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the bank will post earnings per share of $2.12 for the year, up from their previous forecast of $2.04. The consensus estimate for Associated Banc’s current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Associated Banc’s Q1 2025 earnings at $0.53 EPS, FY2025 earnings at $2.27 EPS and Q3 2026 earnings at $0.62 EPS.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The company had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. During the same period in the prior year, the firm posted $0.53 EPS.

A number of other equities analysts also recently issued reports on ASB. Piper Sandler raised their price target on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Stephens reiterated an “equal weight” rating and set a $24.00 target price on shares of Associated Banc in a research report on Tuesday, July 30th. Robert W. Baird decreased their price objective on 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, Barclays raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.89.

Associated Banc Price Performance

Shares of NYSE:ASB opened at $26.10 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The business has a 50-day simple moving average of $23.02 and a two-hundred day simple moving average of $22.03. Associated Banc has a fifty-two week low of $17.30 and a fifty-two week high of $28.18. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 21.75 and a beta of 0.91.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after acquiring an additional 907 shares during the period. Quest Partners LLC purchased a new stake in shares of Associated Banc during the second quarter valued at $38,000. Point72 DIFC Ltd bought a new position in shares of Associated Banc in the third quarter worth about $39,000. Farther Finance Advisors LLC grew its holdings in shares of Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after purchasing an additional 1,438 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Associated Banc during the 2nd quarter valued at about $93,000. Institutional investors own 82.98% of the company’s stock.

Insider Transactions at Associated Banc

In other news, EVP David L. Stein sold 29,536 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares of the company’s stock, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John A. Utz sold 2,000 shares of the company’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 owns 99,637 shares in the company, valued at $2,269,730.86. The trade was a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,641 shares of company stock valued at $1,481,496 in the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio (DPR) is currently 73.33%.

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.