Associated Banc (NYSE:ASB) posted its earnings results on Thursday. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04, Fidelity Earnings reports. The company had revenue of $293.08 million for the quarter, compared to analysts’ expectations of $297.30 million. Associated Banc had a return on equity of 9.71% and a net margin of 21.73%. During the same period last year, the business posted $0.51 earnings per share.
Shares of ASB traded up $0.04 during trading hours on Friday, reaching $21.26. 10,898 shares of the company’s stock traded hands, compared to its average volume of 905,815. The business’s fifty day simple moving average is $21.66 and its two-hundred day simple moving average is $20.73. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 1.46 and a beta of 1.21. Associated Banc has a twelve month low of $18.52 and a twelve month high of $23.83. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.93.
A number of research analysts have recently commented on the company. Bank of America set a $19.00 price target on Associated Banc and gave the company a “sell” rating in a report on Friday, October 25th. Stephens set a $22.00 price target on Associated Banc and gave the company a “hold” rating in a report on Friday, October 25th. Robert W. Baird lowered Associated Banc from an “outperform” rating to a “neutral” rating in a report on Tuesday, December 3rd. Zacks Investment Research lowered Associated Banc from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a report on Thursday, December 26th. Finally, ValuEngine raised Associated Banc from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Associated Banc has a consensus rating of “Hold” and an average price target of $21.67.
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. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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