Associated Banc-Corp. [ASB] Revenue clocked in at $2.09 billion, up 2.29% YTD: What’s Next?

Associated Banc-Corp. [NYSE: ASB] closed the trading session at $21.88. The company report on January 25, 2024 at 3:31 PM that Associated Banc-Corp Reports Full Year 2023 Earnings of $1.13 Per Common Share, or $2.27 Per Common Share(1) Excluding One Time Items Recognized During the Fourth Quarter.

Associated Banc-Corp (NYSE: ASB) (“Associated” or “Company”) today reported net income available to common equity (“earnings”) of $171 million, or $1.13 per common share. These amounts compare to earnings of $355 million, or $2.34 per common share, for the year ended December 31, 2022. For the quarter ended December 31, 2023, the Company reported a loss of $94 million, or $(0.62) per common share. These amounts compare to earnings of $106 million, or $0.70 per common share for the quarter ended December 31, 2022 and earnings of $80 million, or $0.53 per common share for the quarter ended September 30, 2023.

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“2023 was an extraordinary year for regional banking,” said President and CEO Andy Harmening. “Over the course of the year, the industry was tested in several new ways amid an uncertain macro environment. We addressed the immediate risks, while our colleagues remained forward looking, taking great care of our customers while continuing to execute our people-led, digitally enabled strategy. The results of these efforts were clearly visible in the back half of the year, with diversified loan growth, improving household growth metrics, and 3% core customer deposit1 growth.”.

The stocks have a year to date performance of 2.29 percent and weekly performance of 4.59 percent. The stock has been moved at 15.71 percent over the last six months. The stock has performed 1.96 percent around the most recent 30 days and changed 41.53 percent over the most recent 3-months.

If compared to the average trading volume of 1.56M shares, ASB reached to a volume of 2438968 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Associated Banc-Corp. [ASB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASB shares is $22.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASB stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Associated Banc-Corp. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on October 04, 2023.

The Average True Range (ATR) for Associated Banc-Corp. is set at 0.51, with the Price to Sales ratio for ASB stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 0.84. Price to Free Cash Flow for ASB in the course of the last twelve months was 6.78.

ASB stock trade performance evaluation

Associated Banc-Corp. [ASB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.59. With this latest performance, ASB shares gained by 1.96% in over the last four-week period, additionally plugging by 15.71% over the last 6 months – not to mention a drop of -1.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASB stock in for the last two-week period is set at 62.41, with the RSI for the last a single of trading hit 63.19, and the three-weeks RSI is set at 62.49 for Associated Banc-Corp. [ASB]. The present Moving Average for the last 50 days of trading for this stock 20.05, while it was recorded at 21.67 for the last single week of trading, and 17.70 for the last 200 days.

Associated Banc-Corp. [ASB]: An insightful look at the core fundamentals

Associated Banc-Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.03.

Earnings per share (EPS) analysis for Associated Banc-Corp. [ASB] stock

With the latest financial reports released by the company, Associated Banc-Corp. posted 0.7/share EPS, while the average EPS was predicted by analysts to be reported at 0.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ASB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Associated Banc-Corp. go to 8.00%.

Associated Banc-Corp. [ASB]: Institutional Ownership

The top three institutional holders of ASB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ASB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ASB stock with ownership which is approximately 5.8325%.