Zacks Research Lifts Earnings Estimates for Associated Banc

Key Points

• Zacks Research has increased the Q3 EPS estimate for Associated Banc to $0.67, up from $0.66, with a full-year consensus estimate of $2.43 per share.
• Associated Banc reported Q2 earnings of $0.65 per share, exceeding the analysts' expectations of $0.62, alongside a revenue of $366.98 million.
• The company declared a quarterly dividend of $0.23 per share, representing an annualized dividend of $0.92 with a yield of 3.5%.

Associated Banc-Corp (NYSE:ASB - Free Report) - Investment analysts at Zacks Research upped their Q3 2026 earnings per share estimates for shares of Associated Banc in a research note issued to investors on Wednesday, September 17th. Zacks Research analyst Team now anticipates that the bank will earn $0.67 per share for the quarter, up from their previous estimate of $0.66. The consensus estimate for Associated Banc's current full-year earnings is $2.43 per share.

A number of other research analysts have also commented on the stock. Barclays raised their price objective on shares of Associated Banc from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods lifted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a research note on Friday, July 25th. Piper Sandler lifted their target price on shares of Associated Banc from $24.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Truist Financial lifted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company boosted their target price on shares of Associated Banc from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $27.78.

Associated Banc Stock Performance

NYSE ASB traded up $0.30 during trading hours on Friday, reaching $26.12. The company's stock had a trading volume of 248,038 shares, compared to its average volume of 1,510,457. The business has a 50-day simple moving average of $25.63 and a 200 day simple moving average of $23.76. Associated Banc has a 52 week low of $18.32 and a 52 week high of $28.18. The stock has a market cap of $4.33 billion, a PE ratio of 33.89, a PEG ratio of 1.01 and a beta of 0.84. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98.

Associated Banc (NYSE:ASB - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The company had revenue of $366.98 million during the quarter, compared to the consensus estimate of $362.78 million. During the same period last year, the firm earned $0.52 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Associated Banc in the 2nd quarter valued at about $48,373,000. Goldman Sachs Group Inc. grew its position in shares of Associated Banc by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank's stock worth $61,927,000 after purchasing an additional 1,598,951 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Associated Banc during the 4th quarter worth approximately $37,662,000. AQR Capital Management LLC lifted its holdings in shares of Associated Banc by 200.3% during the 1st quarter. AQR Capital Management LLC now owns 1,930,329 shares of the bank's stock worth $42,853,000 after acquiring an additional 1,287,458 shares during the period. Finally, Nuveen LLC bought a new position in Associated Banc in the 1st quarter valued at approximately $23,510,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Matthew R. Braeger sold 2,000 shares of Associated Banc stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the sale, the executive vice president directly owned 13,346 shares in the company, valued at approximately $351,533.64. The trade was a 13.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick Edward Ahern sold 3,342 shares of Associated Banc stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $26.20, for a total transaction of $87,560.40. Following the completion of the sale, the executive vice president owned 41,472 shares in the company, valued at $1,086,566.40. The trade was a 7.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,342 shares of company stock worth $494,360. Insiders own 1.10% of the company's stock.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, September 2nd. Associated Banc's payout ratio is presently 119.48%.

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.