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Associated Banc-Corp (ASB) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2024, Associated Banc-Corp (ASB - Free Report) reported revenue of $325.5 million, down 0.8% over the same period last year. EPS came in at $0.52, compared to $0.56 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $331.36 million, representing a surprise of -1.77%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.52.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 37,997.44 million versus the four-analyst average estimate of 37,935.32 million.
Net Interest Margin: 2.8% versus the four-analyst average estimate of 2.8%.
Net Charge-off (% of Average Loans): 0.3% versus the three-analyst average estimate of 0.3%.
Efficiency Ratio: 60.1% versus the three-analyst average estimate of 59.3%.
Total nonperforming assets: $163.42 million compared to the $186.50 million average estimate based on two analysts.
Net Interest Income (FTE): $260.34 million versus $266.90 million estimated by four analysts on average.
Wealth management fees: $22.63 million versus the four-analyst average estimate of $23.37 million.
Capital markets, net: $4.69 million compared to the $5.51 million average estimate based on four analysts.
Total Noninterest Income: $65.16 million versus $64.46 million estimated by four analysts on average.
Mortgage banking, net: $2.51 million versus the four-analyst average estimate of $3.30 million.
Card-based fees: $11.98 million versus $11.30 million estimated by four analysts on average.
Bank and corporate owned life insurance: $4.58 million versus $2.93 million estimated by four analysts on average.
Shares of Associated Banc-Corp have returned +15.8% over the past month versus the Zacks S&P 500 composite's -0.3% 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) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, Associated Banc-Corp (ASB - Free Report) reported revenue of $325.5 million, down 0.8% over the same period last year. EPS came in at $0.52, compared to $0.56 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $331.36 million, representing a surprise of -1.77%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.52.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 37,997.44 million versus the four-analyst average estimate of 37,935.32 million.
- Net Interest Margin: 2.8% versus the four-analyst average estimate of 2.8%.
- Net Charge-off (% of Average Loans): 0.3% versus the three-analyst average estimate of 0.3%.
- Efficiency Ratio: 60.1% versus the three-analyst average estimate of 59.3%.
- Total nonperforming assets: $163.42 million compared to the $186.50 million average estimate based on two analysts.
- Net Interest Income (FTE): $260.34 million versus $266.90 million estimated by four analysts on average.
- Wealth management fees: $22.63 million versus the four-analyst average estimate of $23.37 million.
- Capital markets, net: $4.69 million compared to the $5.51 million average estimate based on four analysts.
- Total Noninterest Income: $65.16 million versus $64.46 million estimated by four analysts on average.
- Mortgage banking, net: $2.51 million versus the four-analyst average estimate of $3.30 million.
- Card-based fees: $11.98 million versus $11.30 million estimated by four analysts on average.
- Bank and corporate owned life insurance: $4.58 million versus $2.93 million estimated by four analysts on average.
View all Key Company Metrics for Associated Banc-Corp here>>>Shares of Associated Banc-Corp have returned +15.8% over the past month versus the Zacks S&P 500 composite's -0.3% 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.