Associated Banc-Corp (ASB) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Strategic expansion plan, balance sheet repositioning and constant rise in loans and deposits aid Associated Banc-Corp amid higher costs and weak asset quality.
Associated Banc-Corp has shown significant stock performance, rising 71.9% since October, outperforming the S&P 500's 38.1% increase. Despite higher share prices, the company's asset quality and favorable price-to-book ratios suggest potential for further upside. Recent balance sheet improvements include increased deposits, loan growth, and higher non-interest income, leading to improved profitability.
ASB's balance sheet repositioning is expected to enhance its long-term organic growth strategy while leading to a net loss in the fourth quarter of 2024.
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A rise in NII and higher rates drive ASB's Q3 earnings. Higher non-interest income and a fall in provisions are other positives.
Associated Banc-Corp (NYSE:ASB ) Q1 2024 Earnings Conference Call October 24, 2024 5:00 PM ET Company Participants Andrew Harmening - President and Chief Executive Officer Derek Meyer - Executive Vice President and Chief Financial Officer Patrick Ahern - Executive Vice President, Chief Credit Officer and Chicago Market President Conference Call Participants Daniel Tamayo - Raymond James Scott Siefers - Piper Sandler Jared Shaw - Barclays Jon Arfstrom - Capital Markets Terry McEvoy - Stephens Inc. Timur Braziler - Wells Fargo Christopher McGratty - KBW Operator Good afternoon everyone, and welcome to Associated Banc-Corp's Third Quarter 2024 Earnings Conference Call. My name is Paul, and I will be your operator today.
The headline numbers for Associated Banc-Corp (ASB) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Associated Banc-Corp (ASB) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.53 per share a year ago.
Beyond analysts' top -and-bottom-line estimates for Associated Banc-Corp (ASB), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.
Associated Banc-Corp (ASB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Associated Banc-Corp shares have come under pressure as of late, with some of the downside justified because of key weak points. Deposits declined slightly, but loans, securities, and cash values improved. Despite mixed financial results, the company remains cheap and warrants a soft 'buy' rating.