Associated Banc (NYSE:ASB – Get Free Report) released its quarterly earnings results on Thursday. The bank reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52, Briefing.com reports. The business had revenue of $321.75 million during the quarter, compared to the consensus estimate of $330.69 million. Associated Banc had a return on equity of 8.18% and a net margin of 7.93%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS.
Associated Banc Stock Performance
Shares of NYSE ASB traded up $0.02 during midday trading on Friday, hitting $23.95. The company’s stock had a trading volume of 2,803,435 shares, compared to its average volume of 1,385,734. The stock has a fifty day moving average price of $21.21 and a 200 day moving average price of $21.10. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 2.28 and a beta of 0.95. Associated Banc has a one year low of $15.16 and a one year high of $24.21. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47.
Associated Banc Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 3.67%. Associated Banc’s dividend payout ratio is presently 88.89%.
Insider Buying and Selling
Analyst Ratings Changes
ASB has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Stephens reiterated an “equal weight” rating and issued a $23.00 target price on shares of Associated Banc in a research note on Friday, April 26th. Baird R W lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Robert W. Baird dropped their target price on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.56.
View Our Latest Research Report on Associated Banc
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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