FY2024 EPS Estimates for Associated Banc Boosted by Analyst

Associated Banc-Corp (NYSE:ASB) – Equities researchers at Zacks Research upped their FY2024 EPS estimates for Associated Banc in a research report issued on Thursday, January 23rd. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $2.13 for the year, up from their previous forecast of $2.12. The consensus estimate for Associated Banc’s current full-year earnings is $2.15 per share. Zacks Research also issued estimates for Associated Banc’s Q4 2024 earnings at $0.53 EPS.

Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods boosted their price target on Associated Banc from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler raised their price target on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Wells Fargo & Company upped their price objective on shares of Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Barclays boosted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $28.00 price target on shares of Associated Banc in a research report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.00.

Associated Banc Stock Performance

ASB opened at $25.31 on Friday. The firm’s 50-day moving average price is $25.25 and its 200-day moving average price is $23.37. The company has a market cap of $3.83 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.08 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc has a 52-week low of $19.40 and a 52-week high of $28.18.

Associated Banc (NYSE:ASB) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new stake in shares of Associated Banc during the 4th quarter valued at $343,000. EMC Capital Management grew its position in Associated Banc by 13,834.5% during the fourth quarter. EMC Capital Management now owns 27,869 shares of the bank’s stock valued at $666,000 after acquiring an additional 27,669 shares during the period. Crews Bank & Trust purchased a new position in shares of Associated Banc in the 4th quarter worth about $56,000. R Squared Ltd acquired a new position in shares of Associated Banc in the 4th quarter valued at about $67,000. Finally, KBC Group NV grew its holdings in shares of Associated Banc by 72.5% during the 4th quarter. KBC Group NV now owns 7,023 shares of the bank’s stock worth $168,000 after purchasing an additional 2,952 shares during the period. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the transaction, the executive vice president now directly owns 81,021 shares in the company, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the completion of the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

Associated Banc Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.23 per share. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Monday, December 2nd. Associated Banc’s dividend payout ratio is currently 76.67%.

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.