Associated Banc (NYSE:ASB) Posts Earnings Results, Beats Estimates By $0.03 EPS

Associated Banc (NYSE:ASB - Get Free Report) issued its quarterly earnings data on Thursday. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03, Briefing.com reports. The business had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The business's revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share.

Associated Banc Price Performance

Shares of NYSE ASB traded up $0.20 during trading on Friday, hitting $21.57. The company had a trading volume of 2,239,466 shares, compared to its average volume of 1,442,059. The company has a market cap of $3.25 billion, a P/E ratio of 19.16, a PEG ratio of 1.25 and a beta of 1.00. Associated Banc has a 52 week low of $14.47 and a 52 week high of $22.16. The business's 50-day moving average is $20.79 and its 200 day moving average is $19.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.88.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.22 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.88 annualized dividend and a dividend yield of 4.08%. Associated Banc's dividend payout ratio is currently 77.88%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the transaction, the director now owns 50,126 shares of the company's stock, valued at $1,053,648.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Associated Banc news, EVP John A. Utz sold 14,010 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now owns 89,880 shares of the company's stock, valued at $1,905,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen A. Kamerick sold 5,000 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total transaction of $105,100.00. Following the sale, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,710 shares of company stock valued at $454,897. Corporate insiders own 1.45% of the company's stock.

Analyst Upgrades and Downgrades

ASB has been the subject of several analyst reports. Stephens reiterated an "equal weight" rating and set a $23.00 price objective on shares of Associated Banc in a research report on Friday. Royal Bank of Canada reiterated a "sector perform" rating and set a $23.00 price objective on shares of Associated Banc in a research report on Tuesday, April 9th. Piper Sandler boosted their price objective on Associated Banc from $21.50 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, January 26th. Barclays boosted their price objective on Associated Banc from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Wells Fargo & Company upped their target price on Associated Banc from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $23.13.

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.