For the quarter ended December 2023, Associated Banc-Corp (ASB - Free Report) reported revenue of $322.22 million, down 9.4% over the same period last year. EPS came in at $0.53, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of -1.13% over the Zacks Consensus Estimate of $325.89 million. With the consensus EPS estimate being $0.52, the EPS surprise was +1.92%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Associated Banc-Corp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 2.7% compared to the 2.7% average estimate based on four analysts.
- Average Balance - Total earning assets: 38,273.93 million versus 38,434.22 million estimated by four analysts on average.
- Net Charge-off (% of Average Loans): 0.2% versus 0.2% estimated by three analysts on average.
- Total nonperforming assets: $160.42 million versus the two-analyst average estimate of $184.44 million.
- Net Interest Income (FTE): $258.03 million compared to the $263.33 million average estimate based on four analysts.
- Wealth management fees: $21 million versus $20.60 million estimated by four analysts on average.
- Capital markets, net: $9.11 million compared to the $5.50 million average estimate based on four analysts.
- Total Noninterest Income: -$131.01 million compared to the $63.77 million average estimate based on four analysts.
- Mortgage banking, net: $1.62 million versus $4.88 million estimated by four analysts on average.
- Card-based fees: $11.53 million versus $11.47 million estimated by four analysts on average.
- Bank and corporate owned life insurance: $3.38 million versus $2.32 million estimated by four analysts on average.
- Service charges and deposit accounts fees: $10.82 million versus the four-analyst average estimate of $12.64 million.
View all Key Company Metrics for Associated Banc-Corp here>>>Shares of Associated Banc-Corp have returned +0.6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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For the quarter ended December 2023, Associated Banc-Corp (ASB - Free Report) reported revenue of $322.22 million, down 9.4% over the same period last year. EPS came in at $0.53, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of -1.13% over the Zacks Consensus Estimate of $325.89 million. With the consensus EPS estimate being $0.52, the EPS surprise was +1.92%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Associated Banc-Corp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 2.7% compared to the 2.7% average estimate based on four analysts.
- Average Balance - Total earning assets: 38,273.93 million versus 38,434.22 million estimated by four analysts on average.
- Net Charge-off (% of Average Loans): 0.2% versus 0.2% estimated by three analysts on average.
- Total nonperforming assets: $160.42 million versus the two-analyst average estimate of $184.44 million.
- Net Interest Income (FTE): $258.03 million compared to the $263.33 million average estimate based on four analysts.
- Wealth management fees: $21 million versus $20.60 million estimated by four analysts on average.
- Capital markets, net: $9.11 million compared to the $5.50 million average estimate based on four analysts.
- Total Noninterest Income: -$131.01 million compared to the $63.77 million average estimate based on four analysts.
- Mortgage banking, net: $1.62 million versus $4.88 million estimated by four analysts on average.
- Card-based fees: $11.53 million versus $11.47 million estimated by four analysts on average.
- Bank and corporate owned life insurance: $3.38 million versus $2.32 million estimated by four analysts on average.
- Service charges and deposit accounts fees: $10.82 million versus the four-analyst average estimate of $12.64 million.
View all Key Company Metrics for Associated Banc-Corp here>>>Shares of Associated Banc-Corp have returned +0.6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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