Associated Banc-Corp (ASB) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Core Viewpoint - Associated Banc-Corp reported a slight decline in revenue and earnings per share for the quarter ended June 2024, indicating challenges in meeting Wall Street expectations [1]. Financial Performance Summary - Revenue for the quarter was $325.5 million, down 0.8% year-over-year, and EPS was $0.52 compared to $0.56 in the same quarter last year [1]. - The reported revenue fell short of the Zacks Consensus Estimate of $331.36 million, resulting in a surprise of -1.77% [1]. - The company did not deliver an EPS surprise, as the consensus EPS estimate was also $0.52 [1]. Key Metrics Analysis - Average Balance - Total earning assets: $37,997.44 million versus the four-analyst average estimate of $37,935.32 million [2]. - Net Interest Margin: 2.8%, matching the four-analyst average estimate [2]. - Net Charge-off (% of Average Loans): 0.3%, consistent with the three-analyst average estimate [2]. - Efficiency Ratio: 60.1%, slightly above the three-analyst average estimate of 59.3% [2]. - Total nonperforming assets: $163.42 million, below the $186.50 million average estimate based on two analysts [2]. - Net Interest Income (FTE): $260.34 million, lower than the $266.90 million estimated by four analysts [2]. - Wealth management fees: $22.63 million, below the four-analyst average estimate of $23.37 million [2]. - Capital markets, net: $4.69 million, compared to the $5.51 million average estimate based on four analysts [2]. - Total Noninterest Income: $65.16 million, slightly above the $64.46 million estimated by four analysts [2]. - Mortgage banking, net: $2.51 million, below the four-analyst average estimate of $3.30 million [2]. - Card-based fees: $11.98 million, exceeding the $11.30 million estimated by four analysts [2]. - Bank and corporate owned life insurance: $4.58 million, significantly above the $2.93 million estimated by four analysts [2]. Stock Performance - Shares of Associated Banc-Corp have returned +15.8% over the past month, outperforming the Zacks S&P 500 composite, which changed by -0.3% [3]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3].