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Associated Banc-Corp (ASB) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Associated Banc-Corp (ASB - Free Report) reported revenue of $328.25 million, up 10.8% over the same period last year. EPS came in at $0.56, compared to $0.56 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $332.65 million, representing a surprise of -1.32%. The company delivered an EPS surprise of -5.08%, with the consensus EPS estimate being $0.59.
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:
Average Balance - Total earning assets: 37568.99 million versus 37105.94 million estimated by four analysts on average.
Net Interest Margin: 2.8% compared to the 2.93% average estimate based on four analysts.
Net Charge-off (% of Average Loans): 0.1% compared to the 0.1% average estimate based on three analysts.
Efficiency Ratio: 57.26% compared to the 56.93% average estimate based on three analysts.
Total nonperforming assets: $139.20 million versus the two-analyst average estimate of $127.59 million.
Total Nonperforming Loans / Nonaccrual loans: $131.28 million versus the two-analyst average estimate of $124.21 million.
Net Interest Income (FTE): $262.71 million versus $270.69 million estimated by four analysts on average.
Wealth management fees: $20.48 million compared to the $20.38 million average estimate based on four analysts.
Capital markets, net: $5.09 million versus $5.51 million estimated by four analysts on average.
Total Noninterest Income: $65.54 million compared to the $64.26 million average estimate based on four analysts.
Mortgage banking, net: $7.77 million versus the four-analyst average estimate of $4.12 million.
Card-based fees: $11.40 million versus $10.91 million estimated by four analysts on average.
Shares of Associated Banc-Corp have returned +13.4% over the past month versus the Zacks S&P 500 composite's +3.6% 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) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Associated Banc-Corp (ASB - Free Report) reported revenue of $328.25 million, up 10.8% over the same period last year. EPS came in at $0.56, compared to $0.56 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $332.65 million, representing a surprise of -1.32%. The company delivered an EPS surprise of -5.08%, with the consensus EPS estimate being $0.59.
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:
- Average Balance - Total earning assets: 37568.99 million versus 37105.94 million estimated by four analysts on average.
- Net Interest Margin: 2.8% compared to the 2.93% average estimate based on four analysts.
- Net Charge-off (% of Average Loans): 0.1% compared to the 0.1% average estimate based on three analysts.
- Efficiency Ratio: 57.26% compared to the 56.93% average estimate based on three analysts.
- Total nonperforming assets: $139.20 million versus the two-analyst average estimate of $127.59 million.
- Total Nonperforming Loans / Nonaccrual loans: $131.28 million versus the two-analyst average estimate of $124.21 million.
- Net Interest Income (FTE): $262.71 million versus $270.69 million estimated by four analysts on average.
- Wealth management fees: $20.48 million compared to the $20.38 million average estimate based on four analysts.
- Capital markets, net: $5.09 million versus $5.51 million estimated by four analysts on average.
- Total Noninterest Income: $65.54 million compared to the $64.26 million average estimate based on four analysts.
- Mortgage banking, net: $7.77 million versus the four-analyst average estimate of $4.12 million.
- Card-based fees: $11.40 million versus $10.91 million estimated by four analysts on average.
View all Key Company Metrics for Associated Banc-Corp here>>>Shares of Associated Banc-Corp have returned +13.4% over the past month versus the Zacks S&P 500 composite's +3.6% 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.