Associated Banc Corp (ASB) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Associated Banc Corp (NYSE:ASB) posted its quarterly earnings results on Thursday. The bank reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $260.11 million during the quarter, compared to analyst estimates of $266.24 million. Associated Banc Corp had a return on equity of 6.81% and a net margin of 17.31%. During the same period in the prior year, the business earned $0.27 earnings per share.

Associated Banc Corp (NYSE:ASB) opened at 24.30 on Friday. The company has a 50-day moving average price of $24.57 and a 200 day moving average price of $24.40. Associated Banc Corp has a 12 month low of $15.72 and a 12 month high of $26.70. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 18.13 and a beta of 1.18.

Earnings History for Associated Banc Corp (NYSE:ASB)

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a $0.12 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $0.48 annualized dividend and a yield of 1.98%. Associated Banc Corp’s payout ratio is 38.10%.

In other Associated Banc Corp news, insider Breck F. Hanson sold 30,913 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $25.13, for a total value of $776,843.69. Following the completion of the sale, the insider now owns 57,262 shares in the company, valued at approximately $1,438,994.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip B. Flynn sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $24.81, for a total transaction of $248,100.00. Following the completion of the sale, the chief executive officer now owns 127,585 shares of the company’s stock, valued at approximately $3,165,383.85. The disclosure for this sale can be found here. Insiders sold a total of 75,367 shares of company stock valued at $1,914,852 in the last 90 days. Corporate insiders own 2.09% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://sportsperspectives.com/2017/05/20/associated-banc-corp-asb-releases-earnings-results-beats-estimates-by-0-03-eps-updated-updated-updated.html.

A number of equities research analysts have recently issued reports on the company. Barclays PLC upped their price target on Associated Banc Corp to $26.00 and gave the company an “equal weight” rating in a research report on Friday, January 20th. Jefferies Group LLC restated a “hold” rating and issued a $27.00 price target on shares of Associated Banc Corp in a research report on Tuesday, April 4th. SunTrust Banks, Inc. upgraded Associated Banc Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 29th. Zacks Investment Research lowered Associated Banc Corp from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Finally, JMP Securities started coverage on Associated Banc Corp in a research report on Thursday, February 2nd. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.72.

About Associated Banc Corp

Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.

12 Month Chart for NYSE:ASB

Receive News & Ratings for Associated Banc Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply