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Associated Banc-Corp (ASB) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2024, Associated Banc-Corp (ASB - Free Report) reported revenue of $329.73 million, up 1.3% over the same period last year. EPS came in at $0.56, compared to $0.53 in the year-ago quarter.
The reported revenue represents a surprise of -2.02% over the Zacks Consensus Estimate of $336.52 million. With the consensus EPS estimate being $0.51, the EPS surprise was +9.80%.
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: 38.19 billion versus the three-analyst average estimate of 38.62 billion.
Net Interest Margin: 2.8% versus the three-analyst average estimate of 2.8%.
Annualized year-to-date net charge offs (recoveries) to year-to-date average loans: 0.3% versus the three-analyst average estimate of 0.3%.
Total nonperforming assets: $148.10 million versus the two-analyst average estimate of $167.97 million.
Fully tax-equivalent efficiency ratio: 60.1% versus the two-analyst average estimate of 60%.
Net Interest Income (FTE): $266.23 million versus $270.49 million estimated by three analysts on average.
Bank and corporate owned life insurance: $4 million versus the three-analyst average estimate of $4.18 million.
Capital markets, net: $4.32 million versus $5.03 million estimated by three analysts on average.
Mortgage banking, net: $2.13 million versus the three-analyst average estimate of $3.08 million.
Card-based fees: $11.73 million versus the three-analyst average estimate of $12.05 million.
Service charges and deposit accounts fees: $13.71 million compared to the $12.01 million average estimate based on three analysts.
Wealth management fees: $24.14 million versus $22.80 million estimated by three analysts on average.
Shares of Associated Banc-Corp have returned +6.1% over the past month versus the Zacks S&P 500 composite's +1.5% 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) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2024, Associated Banc-Corp (ASB - Free Report) reported revenue of $329.73 million, up 1.3% over the same period last year. EPS came in at $0.56, compared to $0.53 in the year-ago quarter.
The reported revenue represents a surprise of -2.02% over the Zacks Consensus Estimate of $336.52 million. With the consensus EPS estimate being $0.51, the EPS surprise was +9.80%.
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: 38.19 billion versus the three-analyst average estimate of 38.62 billion.
- Net Interest Margin: 2.8% versus the three-analyst average estimate of 2.8%.
- Annualized year-to-date net charge offs (recoveries) to year-to-date average loans: 0.3% versus the three-analyst average estimate of 0.3%.
- Total nonperforming assets: $148.10 million versus the two-analyst average estimate of $167.97 million.
- Fully tax-equivalent efficiency ratio: 60.1% versus the two-analyst average estimate of 60%.
- Net Interest Income (FTE): $266.23 million versus $270.49 million estimated by three analysts on average.
- Bank and corporate owned life insurance: $4 million versus the three-analyst average estimate of $4.18 million.
- Capital markets, net: $4.32 million versus $5.03 million estimated by three analysts on average.
- Mortgage banking, net: $2.13 million versus the three-analyst average estimate of $3.08 million.
- Card-based fees: $11.73 million versus the three-analyst average estimate of $12.05 million.
- Service charges and deposit accounts fees: $13.71 million compared to the $12.01 million average estimate based on three analysts.
- Wealth management fees: $24.14 million versus $22.80 million estimated by three analysts on average.
View all Key Company Metrics for Associated Banc-Corp here>>>Shares of Associated Banc-Corp have returned +6.1% over the past month versus the Zacks S&P 500 composite's +1.5% 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.