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Here's What Key Metrics Tell Us About Associated Banc-Corp (ASB) Q3 Earnings
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Associated Banc-Corp (ASB - Free Report) reported $325.63 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 4.3%. EPS of $0.53 for the same period compares to $0.62 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $327.83 million, representing a surprise of -0.67%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.53.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 38,075.61 million versus the four-analyst average estimate of 38,323.75 million.
Net Interest Margin: 2.7% versus the four-analyst average estimate of 2.7%.
Net Charge-off (% of Average Loans): 0.2% compared to the 0.1% average estimate based on three analysts.
Efficiency Ratio: 58.5% versus 58.9% estimated by three analysts on average.
Total nonperforming assets: $177.67 million versus the two-analyst average estimate of $138.67 million.
Total Nonperforming Loans / Nonaccrual loans: $168.56 million versus the two-analyst average estimate of $139.17 million.
Net Interest Income (FTE): $259.05 million versus the four-analyst average estimate of $263.12 million.
Wealth management fees: $20.83 million compared to the $20.49 million average estimate based on four analysts.
Capital markets, net: $5.37 million versus the four-analyst average estimate of $5.24 million.
Total Noninterest Income: $66.58 million compared to the $64.68 million average estimate based on four analysts.
Mortgage banking, net: $6.50 million compared to the $6.09 million average estimate based on four analysts.
Card-based fees: $11.51 million compared to the $11.46 million average estimate based on four analysts.
Shares of Associated Banc-Corp have returned -5.5% over the past month versus the Zacks S&P 500 composite's -3% 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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Here's What Key Metrics Tell Us About Associated Banc-Corp (ASB) Q3 Earnings
Associated Banc-Corp (ASB - Free Report) reported $325.63 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 4.3%. EPS of $0.53 for the same period compares to $0.62 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $327.83 million, representing a surprise of -0.67%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.53.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 38,075.61 million versus the four-analyst average estimate of 38,323.75 million.
- Net Interest Margin: 2.7% versus the four-analyst average estimate of 2.7%.
- Net Charge-off (% of Average Loans): 0.2% compared to the 0.1% average estimate based on three analysts.
- Efficiency Ratio: 58.5% versus 58.9% estimated by three analysts on average.
- Total nonperforming assets: $177.67 million versus the two-analyst average estimate of $138.67 million.
- Total Nonperforming Loans / Nonaccrual loans: $168.56 million versus the two-analyst average estimate of $139.17 million.
- Net Interest Income (FTE): $259.05 million versus the four-analyst average estimate of $263.12 million.
- Wealth management fees: $20.83 million compared to the $20.49 million average estimate based on four analysts.
- Capital markets, net: $5.37 million versus the four-analyst average estimate of $5.24 million.
- Total Noninterest Income: $66.58 million compared to the $64.68 million average estimate based on four analysts.
- Mortgage banking, net: $6.50 million compared to the $6.09 million average estimate based on four analysts.
- Card-based fees: $11.51 million compared to the $11.46 million average estimate based on four analysts.
View all Key Company Metrics for Associated Banc-Corp here>>>Shares of Associated Banc-Corp have returned -5.5% over the past month versus the Zacks S&P 500 composite's -3% 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.