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Associated Banc-Corp (ASB)
NYSE:ASB
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.52Last Year’s EPS
$0.53Same Quarter Last Year
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 6.70%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong asset quality, customer satisfaction, and strategic growth in deposits and loans. However, concerns about criticized CRE loans and increased noninterest expenses were noted. The bank is well-positioned but remains dependent on the future rate environment for profitability improvements.Company Guidance
During Associated Bancorp's third quarter 2024 earnings call, the management provided detailed guidance on several financial metrics. The company reported a GAAP diluted EPS of $0.56 for the quarter, alongside a 2% year-over-year increase in core customer deposits. The net interest margin improved by 3 basis points to 2.78%, driven by a $6 million increase in net interest income (NII) to $263 million. Noninterest income grew by 3% to $67 million, supported by wealth management fees. The company recorded total noninterest expenses of $201 million, resulting in a slight decrease in the efficiency ratio to 60.4%. On the capital front, the CET1 ratio increased to 9.72%, and the TCE ratio rose to 7.50%. Credit quality remained solid, with nonaccruals decreasing and a net charge-off ratio of 0.18%. Looking ahead, the company expects total loan growth at the lower end of their original 4% to 6% range and core customer deposit growth at the lower end of the 3% to 5% range for 2024.Strong Asset Quality and Credit Management
Stable asset quality trends were maintained with nonaccruals and net charge-offs decreasing meaningfully in Q3. The Allowance for Credit Losses increased by $8 million to $398 million, with a consistent reserve to loan ratio of 1.33%.
Customer Satisfaction and Growth
Highest net promoter and mobile banking satisfaction scores on record were achieved in 2024. The bank also reversed a negative household trend to positive, increasing customer base and deposit balances.
Core Deposit and Loan Growth
Core customer deposits grew over $600 million (2% increase relative to Q2) and C&I loans grew by nearly $300 million. These trends are expected to continue, supported by strategic hiring and new business verticals.
Positive Capital Trends
CET1 ratio increased to 9.72%, a 33 basis point increase from the end of 2023, marking the highest CET1 ratio since Q1 2022.
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ASB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ASB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $22.48 | $22.71 | +1.02% |
| Jul 25, 2024 | $23.50 | $23.52 | +0.09% |
| Apr 25, 2024 | $20.77 | $20.96 | +0.91% |
| Jan 25, 2024 | $21.04 | $20.81 | -1.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Associated Banc-Corp (ASB) report earnings?
Associated Banc-Corp (ASB) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Associated Banc-Corp (ASB) earnings time?
Associated Banc-Corp (ASB) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ASB EPS forecast?
ASB EPS forecast for the fiscal quarter 2024 (Q4) is $0.52.
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