Associated Banc (NYSE:ASB) Announces Quarterly Earnings Results

Associated Banc (NYSE:ASB) issued its quarterly earnings data on Wednesday. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.09, MarketWatch Earnings reports. Associated Banc had a net margin of 20.66% and a return on equity of 5.68%.

Shares of ASB opened at $19.32 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.97 billion, a P/E ratio of 10.17, a PEG ratio of 2.05 and a beta of 1.23. The company has a 50-day moving average of $17.75 and a two-hundred day moving average of $14.79. Associated Banc has a 12-month low of $10.23 and a 12-month high of $21.49.

In other Associated Banc news, EVP Patrick Edward Ahern sold 7,000 shares of Associated Banc stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $15.40, for a total transaction of $107,800.00. Insiders own 2.38% of the company’s stock.

Several brokerages have issued reports on ASB. Bank of America raised their price objective on shares of Associated Banc from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $16.00 to $18.00 in a report on Thursday, October 8th. Zacks Investment Research raised shares of Associated Banc from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Tuesday, December 22nd. TheStreet raised shares of Associated Banc from a “c+” rating to a “b” rating in a report on Thursday, November 19th. Finally, Piper Sandler lowered their target price on shares of Associated Banc from $14.50 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, September 29th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.13.

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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Earnings History for Associated Banc (NYSE:ASB)

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