Associated Banc (NYSE:ASB – Get Free Report) posted its earnings results on Thursday. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06, Briefing.com reports. The company had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. During the same quarter in the prior year, the company earned $0.53 earnings per share.
Associated Banc Price Performance
Shares of NYSE:ASB traded up $0.49 during trading on Friday, hitting $23.17. 602,085 shares of the company’s stock were exchanged, compared to its average volume of 1,328,574. The business’s 50-day simple moving average is $21.76 and its 200 day simple moving average is $21.45. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. Associated Banc has a 52-week low of $15.59 and a 52-week high of $24.21. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 1.66 and a beta of 0.93.
Associated Banc Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Tuesday, September 3rd. Associated Banc’s dividend payout ratio (DPR) is 88.89%.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on ASB shares. Barclays increased their price objective on shares of Associated Banc from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Piper Sandler lifted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Robert W. Baird reduced their price objective on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. StockNews.com downgraded Associated Banc from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Baird R W cut Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Associated Banc has an average rating of “Hold” and a consensus target price of $23.78.
View Our Latest 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.
Featured Articles
- Five stocks we like better than Associated Banc
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Texas Roadhouse Stock Steering for New Highs This Year
- Canadian Penny Stocks: Can They Make You Rich?
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- What is the Dow Jones Industrial Average (DJIA)?
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
Receive News & Ratings for Associated Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated Banc and related companies with MarketBeat.com's FREE daily email newsletter.