Zacks Research Raises Earnings Estimates for Associated Banc

Key Points

• Zacks Research has raised its FY2027 earnings per share estimate for Associated Banc to $2.77, slightly above the previous estimate of $2.76, reflecting a positive outlook for the bank's profitability.
• Several analysts have adjusted their price targets for Associated Banc, with Royal Bank Of Canada setting a new target of $28.00, indicating a consensus average price target of $28.11.
• Associated Banc recently announced a quarterly dividend of $0.23, representing a 3.7% yield, despite a payout ratio of 119.48%, suggesting a commitment to returning capital to shareholders.

Associated Banc-Corp (NYSE:ASB - Free Report) - Equities researchers at Zacks Research upped their FY2027 earnings per share (EPS) estimates for shares of Associated Banc in a research note issued to investors on Friday, October 10th. Zacks Research analyst Team now forecasts that the bank will post earnings of $2.77 per share for the year, up from their previous forecast of $2.76. The consensus estimate for Associated Banc's current full-year earnings is $2.43 per share.

Several other research analysts have also commented on the company. Royal Bank Of Canada lifted their price target on Associated Banc from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Friday. Piper Sandler lifted their price target on Associated Banc from $24.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Truist Financial boosted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the company a "hold" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Associated Banc from $27.00 to $28.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Associated Banc in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.11.

Associated Banc Stock Down 5.8%

NYSE ASB opened at $24.68 on Monday. Associated Banc has a 52 week low of $18.32 and a 52 week high of $28.18. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. The business's fifty day simple moving average is $25.78 and its 200-day simple moving average is $24.11. The firm has a market cap of $4.09 billion, a PE ratio of 32.05, a P/E/G ratio of 0.99 and a beta of 0.82.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, topping 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 business had revenue of $366.98 million for the quarter, compared to analyst estimates of $362.78 million. During the same quarter in the previous year, the firm earned $0.52 EPS.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Associated Banc's payout ratio is currently 119.48%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Patrick Edward Ahern sold 3,342 shares of Associated Banc stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $26.20, for a total value of $87,560.40. Following the completion of the transaction, the executive vice president directly owned 41,472 shares of the company's stock, valued at $1,086,566.40. The trade was a 7.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matthew R. Braeger sold 2,000 shares of Associated Banc stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the transaction, the executive vice president directly owned 13,346 shares of the company's stock, valued at approximately $351,533.64. This represents a 13.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,342 shares of company stock valued at $494,360 in the last three months. 1.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Associated Banc

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Trust Point Inc. acquired a new position in shares of Associated Banc during the third quarter worth about $820,000. Assenagon Asset Management S.A. acquired a new position in shares of Associated Banc during the third quarter worth about $499,000. Osaic Holdings Inc. grew its position in shares of Associated Banc by 3.7% during the second quarter. Osaic Holdings Inc. now owns 22,256 shares of the bank's stock worth $543,000 after buying an additional 800 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Associated Banc by 89.3% during the second quarter. Thrivent Financial for Lutherans now owns 209,654 shares of the bank's stock worth $5,113,000 after buying an additional 98,930 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Associated Banc by 229.5% during the second quarter. Tower Research Capital LLC TRC now owns 28,547 shares of the bank's stock worth $696,000 after buying an additional 19,884 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

About Associated Banc

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.

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