Associated Banc-Corp (NYSE:ASB) banking and nonbanking products and services provider, is expected to report third quarter earnings results, after market close, on Thursday 22nd October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.20 per share.
Looking ahead, the full year income are expected at $ 1.63 per share on the revenues of $ 1250.28 million.
Previous Quarter Performance
Associated Banc-Corp revealed income for the second quarter of $ 0.26 per share, from the revenue of $ 444.36 million. The quarterly earnings fell 50.00 percent while revenues increased 43.59 percent compared with the same quarter last year.
Wall street analysts are predicting, ASB to report 2Q20 income of $ 0.31 per share from revenue of $ 296.27 million. The bottom line results missed street analysts by $ 0.05 or 16.13 percent, at the same time, top line results outshined analysts by $ 148.09 million or 49.98 percent.
Stock Performance
Shares of Associated Banc-Corp traded up $ 0.07 or 0.51 percent on Wednesday, reaching $ 13.78 with volume of 1.47 million shares. Associated Banc-Corp has traded high as $ 13.86 and has cracked $ 13.65 on the downward trend
The closing price of $ 13.78, representing a 34.02 % increase from the 52 week low of $ 10.23 and a 39.34 % decrease over the 52 week high of $ 22.60.
The company has a market capital of $ 2.12 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 8th October 2020, upgraded by Wells Fargo & Co to Overweight from Equal-Weight rating.
- On 29th September 2020, maintained by Piper Sandler at Neutral rating, with $ 14.00 target price.
Recent Stock Dividend Announcement
On July 27, 2020, the board of directors authorized quarterly dividend of $ 0.18 per share to holders of record as of the close of business on September 1, 2020, with payment date of September 15, 2020 and ex-dividend date on August 31, 2020.
Conference Call
Associated Banc-Corp will be hosting a conference call at 5:00 PM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.associatedbank.com
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. This segment also provides specialized financial services comprising interest rate risk management, foreign exchange solutions, and commodity hedging.
