Zacks Research Forecasts Higher Earnings for Associated Banc

Associated Banc-Corp (NYSE:ASB) – Zacks Research upped their FY2024 EPS estimates for Associated Banc in a research note issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the bank will post earnings per share of $2.12 for the year, up from their previous estimate 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.

A number of other research analysts have also recently commented on ASB. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods lifted their price objective on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a report 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. Royal Bank of Canada boosted their price target on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird dropped their price objective on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.89.

Associated Banc Trading Down 0.3 %

Shares of ASB stock opened at $26.60 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 firm has a fifty day moving average of $22.82 and a 200-day moving average of $21.97. Associated Banc has a 52-week low of $17.30 and a 52-week high of $28.18. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.95 and a beta of 0.91.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC bought a new position in Associated Banc in the first quarter worth approximately $866,000. M&G Plc increased its stake in Associated Banc by 12.4% during the 2nd quarter. M&G Plc now owns 411,761 shares of the bank’s stock valued at $8,647,000 after purchasing an additional 45,542 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Associated Banc by 71.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank’s stock worth $1,591,000 after buying an additional 30,732 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Associated Banc in the first quarter valued at $609,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Associated Banc by 54.8% during the second quarter. Nisa Investment Advisors LLC now owns 34,729 shares of the bank’s stock valued at $735,000 after buying an additional 12,296 shares during the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the sale, the executive vice president now directly owns 81,021 shares in the company, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the sale, the executive vice president now directly owns 100,204 shares of the company’s stock, valued at $2,423,934.76. This represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,641 shares of company stock valued at $1,481,496. Company insiders own 1.45% of the company’s stock.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.23 dividend. 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. This represents a $0.92 dividend on an annualized basis and a yield of 3.46%. Associated Banc’s dividend payout ratio (DPR) is presently 76.67%.

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.