Company Overview - Associated Banc-Corp (ASB) is headquartered in Green Bay and operates in the Finance sector [3] - The stock has experienced a price change of 5.31% since the beginning of the year [3] Dividend Information - The company currently pays a dividend of $0.23 per share, resulting in a dividend yield of 3.66% [3] - This yield is higher than the Banks - Midwest industry's yield of 2.77% and the S&P 500's yield of 1.49% [3] - The annualized dividend of $0.92 has increased by 3.4% from the previous year [4] - Over the past five years, ASB has raised its dividend four times, averaging an annual increase of 5.57% [4] - The current payout ratio is 42%, indicating that the company pays out 42% of its trailing 12-month EPS as dividends [4] Earnings Growth - The Zacks Consensus Estimate for ASB's earnings in 2025 is $2.41 per share, reflecting a year-over-year growth rate of 1.26% [5] Investment Appeal - ASB is considered a compelling investment opportunity due to its attractive dividend and strong Zacks Rank of 1 (Strong Buy) [7] - Dividends are favored by investors as they enhance stock investing profits, reduce overall portfolio risk, and offer tax advantages [6]

Core Insights - Five stocks have been added to the Zacks Rank 1 (Strong Buy) List, indicating strong potential for investment returns Group 1: Company Performance - Victoria's Secret (VSCO) has seen a 17.4% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Associated BancCorp (ASB) has experienced a 6.3% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Okta (OKTA) has reported a 6.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Playa Hotels & Resorts (PLYA) has seen a 5.8% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - Deckers Outdoor (DECK) has experienced a 5.7% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [4]

GREEN BAY, Wis., Jan. 28, 2025 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) announced today that Management expects to meet with investors during the following events in the first quarter of 2025: BofA Securities 2025 Financial Services Conference in Miami, FL on February 11-12, 2025 2025 KBW Winter Financial Services Conference in Boca Raton, FL on February 12-14, 2025 2025 RBC Capital Markets Global Financial Institutions Conference in New York, NY on March 4-5, 2025Management also expects to present ...

Core Viewpoint - Associated Banc-Corp (ASB) reported fourth-quarter 2024 adjusted earnings of 57 cents per share, exceeding the Zacks Consensus Estimate of 55 cents and up from 53 cents in the prior-year quarter [1] Financial Performance - The increase in adjusted earnings was driven by a rise in net interest income (NII) and adjusted non-interest income, supported by a growth in deposit balances and lower provisions, although higher adjusted expenses posed a challenge [2] - Total adjusted revenues for the quarter were $345.8 million, a 5% increase year over year, surpassing the Zacks Consensus Estimate of $343.3 million [5] - For 2024, total adjusted revenues grew marginally to $1.33 billion, also exceeding the consensus estimate of $1.32 billion [5] Income and Expenses - NII was reported at $270.3 million, reflecting a 7% increase, with a net interest margin of 2.81%, up 12 basis points year over year [6] - Non-interest loss for the quarter was $206.8 million, compared to a loss of $131 million in the prior-year quarter; adjusted non-interest income, excluding certain losses, was $71.8 million, up 2% [7] - Non-interest expenses decreased by 6% to $224.3 million, but adjusted expenses rose marginally to $210 million [8] Loan and Deposit Trends - Total loans as of December 31, 2024, were $29.8 billion, down 1% from the prior quarter due to the sale of $723 million in residential mortgages [9] - Total deposits increased by 3% to $34.6 billion, exceeding the estimate of $34.5 billion [9] Credit Quality - The provision for credit losses was $17 million, down 19% from the prior-year quarter, with total non-performing assets decreasing by 10% to $144.2 million [10] - Net charge-offs were reported at $12.2 million, down 22% from the prior-year quarter [11] Capital Ratios - As of December 31, 2024, the Tier 1 risk-based capital ratio improved to 10.57%, up from 9.99% in the corresponding period of 2023 [12] Future Outlook - Management anticipates loan growth of 5-6% and total core customer deposits to rise by 4-5% in 2025, with NII projected to increase by 12-13% [13] - Total non-interest income is expected to remain stable or grow by 1%, while total non-interest expenses are likely to rise by 3-4% [14]

Strategic Initiatives - Associated Banc-Corp is advancing its growth strategy by combining targeted initiatives with legacy strengths, moving from a foundational phase (2021-2023) to an acceleration phase (2023-Present)[7] - The company is on track to add 26 commercial & business RMs[7] - The company executed a balance sheet repositioning in 4Q23[7] Recent Performance & Recognition - Associated Banc-Corp was named 1 for Retail Banking Customer Satisfaction in the Upper Midwest by J D Power[9] - The company experienced total checking household growth of 15% in 3Q (annualized)[9] - Commercial & business RMs expanded by 39% from 12/31/21 to 12/4/24[9] Balance Sheet Repositioning - The company sold approximately $13 billion of AFS securities and reinvested into approximately $15 billion of securities at higher rates[16] - The weighted average yield on securities sold was 187%, while the reinvested securities have a weighted average yield of 508%[16] - The company agreed to sell approximately $07 billion in low-yielding residential mortgage loans with a weighted average yield of approximately 299%[16] Pro Forma Impacts - The balance sheet repositioning is estimated to result in a one-time loss (after-tax) of $253 million in 4Q 2024[18] - The pro forma net interest margin is expected to improve by approximately 19bps to 297% compared to the 3Q 2024 actual of 278%[35] - The pro forma CET1 ratio is projected to increase by approximately 39bps to 1011% compared to the 3Q 2024 actual of 972%[35]

Financial Data and Key Metrics - The company raised over $300 million of new capital through a common stock issuance [2] - The company sold approximately $700 million in low-yielding mortgage loans and $1.3 billion worth of AFS securities as part of a balance sheet repositioning [2] - The company purchased $55 million in existing customer credit card balances [3] Business Line Data and Key Metrics - The company launched a new specialty deposit and payment solutions vertical to enhance its commercial capabilities [2] Market Data and Key Metrics - Unemployment rates in Wisconsin, Minnesota, and several other Midwestern states remain well below the national average of 4.1% [2] - Prime and super prime consumer borrowers have remained resilient, and commercial customers are cautiously optimistic about their growth prospects in 2025 [2] Company Strategy and Industry Competition - The company remains front-footed with the execution of its growth strategy, leveraging the stable economic environment in the Midwest [2] Management Commentary on Operating Environment and Future Outlook - The US economy, particularly in the Midwest, shows signs of strength and stability, which has supported the company's strategic initiatives [2] - Commercial customers are cautiously optimistic about growth prospects in 2025, reflecting a positive outlook for the company's business environment [2] Other Important Information - The company's Chief Financial Officer, Derek Meyer, and Chief Credit Officer, Pat Ahern, provided updates on margin, income statement, capital trends, and credit during the call [1] Q&A Session - No specific Q&A details were provided in the content

Core Insights - Associated Banc-Corp reported revenue of $345.78 million for Q4 2024, a year-over-year increase of 7.3% and exceeding the Zacks Consensus Estimate of $343.34 million by 0.71% [1] - The company achieved an EPS of $0.57, up from $0.53 a year ago, with a surprise of 3.64% compared to the consensus estimate of $0.55 [1] Financial Performance Metrics - Annualized year-to-date net charge offs to year-to-date average loans were 0.2%, better than the estimated 0.3% [4] - Average balance of total earning assets was $38.88 billion, slightly above the estimated $38.75 billion [4] - Net interest margin was reported at 2.8%, below the estimated 2.9% [4] - Total nonperforming assets amounted to $144.16 million, lower than the estimated $148.76 million [4] - Fully tax-equivalent efficiency ratio was 61.1%, higher than the estimated 59.5% [4] - Net interest income (FTE) was $273.97 million, below the estimated $277.90 million [4] - Wealth management fees reached $24.10 million, exceeding the estimated $23.52 million [4] - Service charges and deposit account fees were $13.23 million, slightly above the estimated $13.19 million [4] - Card-based fees totaled $11.95 million, slightly below the estimated $12.03 million [4] - Total noninterest income was $71.82 million, surpassing the estimated $66.70 million [4] - Capital markets net income was $9.03 million, significantly above the estimated $4.59 million [4] - Mortgage banking net income was $3.39 million, exceeding the estimated $2.09 million [4] Stock Performance - Shares of Associated Banc-Corp returned +4.7% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

Associated Banc-Corp (ASB) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.64%. A quarter ago, it was expected that this bank holding company would post earnings of $0.51 per share when it actually produced earnings of $0.56, delivering a surprise of 9.80%.Over the last four quarter ...

NEWS RELEASE Investor Contact: Ben McCarville, Senior Vice President, Director of Investor Relations 920-491-7059 Media Contact: Andrea Kozek, Vice President, Public Relations Senior Manager 920-491-7518 Associated Banc-Corp Reports Full Year 2024 Earnings of $0.72 Per Common Share, or $2.38 Per Common Share Excluding Nonrecurring Items Recognized During the Fourth Quarter 1 GREEN BAY, Wis. -- January 23, 2025 -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today reported net income availabl ...

GREEN BAY, Wis., Jan. 23, 2025 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") today reported net income available to common equity ("earnings") of $112 million, or $0.72 per common share for the year ended December 31, 2024. These amounts compare to earnings of $171 million, or $1.13 per common share, for the year ended December 31, 2023. For the quarter ended December 31, 2024, the Company reported a loss of $164 million, or $1.03 per common share. These amounts compare to a l ...