Associated Banc-Corp (NYSE:ASB)spotted trading -15.14% off 52-week high price. On the other end, the stock has been noted 9.23% away from the low price over the last 52-weeks. The stock changed -0.30% to recent value of $20.23. The stock transacted 2825953 shares during most recent day however it has an average volume of 1016.56K shares. The company has 162.17M of outstanding shares and 159.13M shares were floated in the market.
On Oct. 24, 2019, Associated Banc-Corp (NYSE:ASB) reported net income available to common equity (earnings) of $80 million, or $0.49 per common share for the quarter ended September 30, 2019. These amounts compare to net income available to common equity of $84 million, or $0.48 per common share for the quarter ended September 30, 2018. Earnings for the first nine months of 2019 were $1.48 per common share compared to $1.38 per common share in the same period last year.
We were pleased with our bottom-line results in the third quarter. We benefited from strong mortgage banking revenue and improving credit quality trends which drove our earnings per share, said President and CEO Philip B. Flynn. We continued to reposition funding sources and adjust our securities portfolio, resulting in a lower cost of funds, smaller balance sheet, and more capital flexibility. We anticipate additional funding changes as we continue to fine-tune our balance sheet for a lower rate environment.
THIRD QUARTER 2019 SUMMARY (all comparisons to the third quarter of 2018)
Average loans of $23.3 billion were up 1%, or $278 million
Average deposits of $25.2 billion were up 2%, or $505 million
Net interest income of $206 million decreased $13 million, or 6%
Net interest margin of 2.81% declined 11 basis points from 2.92%
Provision for credit losses of $2 million compared to negative $5 million
Noninterest income of $101 million increased 14%, or $13 million
Noninterest expense of $201 million was down 2%, or $3 million
Income before income taxes of $104 million decreased 4%, or $4 million
During the quarter, the Company repurchased nearly 3 million shares, or $60 million, of common stock
Total dividends paid per common share were $0.17, up 13%
Return on average common equity Tier 1 decreased to 12.8% from 13.2%
Its earnings per share (EPS) expected to touch remained 19.70% for this year while earning per share for the next 5-years is expected to reach at 6.00%. ASB has an operating margin of 71.10% while its profit margin remained 27.30% for the last 12 months.
The price moved ahead of 1.28% from the mean of 20 days, 2.28% from mean of 50 days SMA and performed -4.62% from mean of 200 days price. Company’s performance for the week was -1.37%, -1.32% for month and YTD performance remained 2.22%.
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