Equities Analysts Issue Forecasts for Associated Banc-Corp’s FY2022 Earnings (NYSE:ASB)

Associated Banc-Corp (NYSE:ASBGet Rating) – Research analysts at Zacks Research upped their FY2022 earnings per share estimates for shares of Associated Banc in a research note issued to investors on Monday, September 19th. Zacks Research analyst S. Shah now forecasts that the bank will post earnings of $2.17 per share for the year, up from their prior estimate of $2.15. The consensus estimate for Associated Banc’s current full-year earnings is $2.19 per share. Zacks Research also issued estimates for Associated Banc’s Q4 2022 earnings at $0.59 EPS, Q1 2023 earnings at $0.55 EPS, Q2 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.58 EPS, FY2023 earnings at $2.28 EPS, Q1 2024 earnings at $0.61 EPS, Q2 2024 earnings at $0.58 EPS and FY2024 earnings at $2.39 EPS.

ASB has been the subject of a number of other research reports. Stephens upped their price target on Associated Banc to $23.00 in a research report on Tuesday, August 23rd. Wells Fargo & Company upped their price target on Associated Banc to $28.00 in a research report on Friday, July 22nd. Finally, Jefferies Financial Group lowered their price target on Associated Banc from $23.00 to $20.00 in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.67.

Associated Banc Stock Performance

ASB opened at $21.11 on Wednesday. The business has a 50 day simple moving average of $20.31 and a two-hundred day simple moving average of $20.59. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.18 and a beta of 1.04. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.91. Associated Banc has a one year low of $17.45 and a one year high of $25.78.

Associated Banc (NYSE:ASBGet Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.12. Associated Banc had a return on equity of 8.63% and a net margin of 28.30%. The company had revenue of $296.32 million during the quarter, compared to analyst estimates of $281.69 million. During the same quarter in the previous year, the company posted $0.56 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quent Capital LLC purchased a new position in shares of Associated Banc during the 4th quarter worth approximately $39,000. Exchange Traded Concepts LLC purchased a new position in Associated Banc during the second quarter valued at $33,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Associated Banc during the first quarter valued at $91,000. Covestor Ltd raised its stake in Associated Banc by 67.3% during the first quarter. Covestor Ltd now owns 4,793 shares of the bank’s stock valued at $109,000 after buying an additional 1,928 shares during the last quarter. Finally, Point72 Hong Kong Ltd raised its stake in Associated Banc by 1,891.3% during the first quarter. Point72 Hong Kong Ltd now owns 5,735 shares of the bank’s stock valued at $131,000 after buying an additional 5,447 shares during the last quarter. Hedge funds and other institutional investors own 81.06% of the company’s stock.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.79%. Associated Banc’s dividend payout ratio (DPR) is 38.46%.

Associated Banc Company Profile

(Get Rating)

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services.

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Earnings History and Estimates for Associated Banc (NYSE:ASB)

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