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Associated Banc-Corp (ASB) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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Associated Banc-Corp (ASB - Free Report) reported $340.86 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 27.8%. EPS of $0.66 for the same period compares to $0.47 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $349.71 million, representing a surprise of -2.53%. The company delivered an EPS surprise of +4.76%, with the consensus EPS estimate being $0.63.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 3.07% compared to the 3.25% average estimate based on four analysts.
Average Balance - Total earning assets: 36580.81 million versus the four-analyst average estimate of 35744.98 million.
Efficiency Ratio: 56.07% versus 55.07% estimated by three analysts on average.
Net Interest Income (FTE): $278.78 million compared to the $287.09 million average estimate based on four analysts.
Bank and corporate owned life insurance: $2.66 million versus the four-analyst average estimate of $3.19 million.
Capital markets, net: $5.08 million versus the four-analyst average estimate of $6.11 million.
Mortgage banking, net: $3.55 million versus the four-analyst average estimate of $3.06 million.
Card-based fees: $10.59 million versus $11.16 million estimated by four analysts on average.
Service charges and deposit accounts fees: $12.99 million compared to the $14.32 million average estimate based on four analysts.
Wealth management fees: $20.19 million versus $20.91 million estimated by four analysts on average.
Total Noninterest Income: $62.07 million versus the four-analyst average estimate of $65.73 million.
Other income: $2.42 million versus the three-analyst average estimate of $3.97 million.
Shares of Associated Banc-Corp have returned +0.2% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Associated Banc-Corp (ASB) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Associated Banc-Corp (ASB - Free Report) reported $340.86 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 27.8%. EPS of $0.66 for the same period compares to $0.47 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $349.71 million, representing a surprise of -2.53%. The company delivered an EPS surprise of +4.76%, with the consensus EPS estimate being $0.63.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 3.07% compared to the 3.25% average estimate based on four analysts.
- Average Balance - Total earning assets: 36580.81 million versus the four-analyst average estimate of 35744.98 million.
- Efficiency Ratio: 56.07% versus 55.07% estimated by three analysts on average.
- Net Interest Income (FTE): $278.78 million compared to the $287.09 million average estimate based on four analysts.
- Bank and corporate owned life insurance: $2.66 million versus the four-analyst average estimate of $3.19 million.
- Capital markets, net: $5.08 million versus the four-analyst average estimate of $6.11 million.
- Mortgage banking, net: $3.55 million versus the four-analyst average estimate of $3.06 million.
- Card-based fees: $10.59 million versus $11.16 million estimated by four analysts on average.
- Service charges and deposit accounts fees: $12.99 million compared to the $14.32 million average estimate based on four analysts.
- Wealth management fees: $20.19 million versus $20.91 million estimated by four analysts on average.
- Total Noninterest Income: $62.07 million versus the four-analyst average estimate of $65.73 million.
- Other income: $2.42 million versus the three-analyst average estimate of $3.97 million.
View all Key Company Metrics for Associated Banc-Corp here>>>Shares of Associated Banc-Corp have returned +0.2% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.