Noteworthy Rating Filing: What To Expect After Associated Banc (NYSE:ASB)’s Downgrade Rating From Jefferies?

November 28, 2016 - By whatsonthorold

Noteworthy Rating Filing: What To Expect After Associated Banc (NYSE:ASB)'s Downgrade Rating From Jefferies?

Associated Banc (NYSE:ASB) Downgrade

Jefferies decreased the shares of Associated Banc (NYSE:ASB) from a “Buy” rating to a “Hold” rating in a a research note sent to investors on 28 November.

Associated Banc Corp (NYSE:ASB) Ratings Coverage

Out of 6 analysts covering Associated Banc (NYSE:ASB), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. $21 is the highest target while $19 is the lowest. The $19.75 average target is -12.42% below today’s ($22.55) stock price. Associated Banc has been the topic of 8 analyst reports since October 9, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating given on Friday, April 1 by Macquarie Research. Barclays Capital maintained the shares of ASB in a report on Tuesday, August 16 with “Equal-Weight” rating. The firm has “Buy” rating by Deutsche Bank given on Wednesday, January 13. The company was maintained on Friday, October 9 by Barclays Capital. The stock has “Equal-Weight” rating given by Stephens on Tuesday, January 12. The company was maintained on Friday, January 22 by RBC Capital Markets.

About 308,573 shares traded hands. Associated Banc Corp (NYSE:ASB) has risen 26.51% since April 25, 2016 and is uptrending. It has outperformed by 20.50% the S&P500.

Analysts await Associated Banc Corp (NYSE:ASB) to report earnings on January, 19. They expect $0.32 earnings per share, up 18.52% or $0.05 from last year’s $0.27 per share. ASB’s profit will be $47.96M for 17.62 P/E if the $0.32 EPS becomes a reality. After $0.34 actual earnings per share reported by Associated Banc Corp for the previous quarter, Wall Street now forecasts -5.88% negative EPS growth.

Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.11, from 1.08 in 2016Q1. The ratio dropped, as 22 funds sold all Associated Banc Corp shares owned while 61 reduced positions. 13 funds bought stakes while 77 increased positions. They now own 109.36 million shares or 3.77% less from 113.65 million shares in 2016Q1.

Deutsche Retail Bank Ag owns 138,476 shares or 0% of their US portfolio. Proshare Advisors Ltd Co holds 0.01% of its portfolio in Associated Banc Corp (NYSE:ASB) for 35,924 shares. Tiaa Cref Investment Limited Liability last reported 0% of its portfolio in the stock. Commonwealth Of Pennsylvania Pub School Empls Retrmt reported 28,897 shares or 0.01% of all its holdings. Columbia Wanger Asset Mngmt Lc has 0.62% invested in the company for 3.13 million shares. Moreover, Renaissance Technologies Ltd Com has 0.01% invested in Associated Banc Corp (NYSE:ASB) for 214,279 shares. Us Bancshares De last reported 0.01% of its portfolio in the stock. Balyasny Asset Ltd Liability Com holds 0.04% of its portfolio in Associated Banc Corp (NYSE:ASB) for 344,614 shares. Rs Invest Management last reported 3.28 million shares in the company. State Of Tennessee Treasury Department accumulated 100,000 shares or 0.01% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) reported 4,816 shares or 0% of all its holdings. Creative Planning accumulated 0% or 1,100 shares. Ameriprise, a Minnesota-based fund reported 754,480 shares. The New York-based Maltese Capital Management Limited Liability Company has invested 0.35% in Associated Banc Corp (NYSE:ASB). Brown Brothers Harriman And, a New York-based fund reported 2,792 shares.

Associated Banc-Corp is a bank holding company. The company has a market cap of $3.38 billion. The Company, through its banking subsidiary Associated Bank, National Association and various nonbanking subsidiaries, provides a range of banking and nonbanking services and products to individuals. It has a 19.02 P/E ratio. The Firm operates through three divisions: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.

According to Zacks Investment Research, “Associated Banc-Corp is a diversified multibank holding company. The company has banking offices serving communities in Wi., Il. and Min. The company offers a full range of traditional banking services such as: Business banking, Trust, asset management, and investment services, Retail banking, Private banking, Credit and debit cards, Personal loans, Full-service, discount and online investment brokerage, Personal trust, Employee benefit plan investment management, Insurance, Leasing, Correspondent banking, Cash management services, International banking.”

ASB Company Profile

Associated Banc-Corp, incorporated on October 20, 1964, is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and nonbanking services and products to individuals. The Firm operates through three divisions: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services. The Firm has over 200 banking offices serving over 100 communities, which are located in Wisconsin, Illinois and Minnesota.

More notable recent Associated Banc Corp (NYSE:ASB) news were published by: Nasdaq.com which released: “Associated Banc-Corp Focused on Organic Growth Strategy” on November 25, 2016, also Jsonline.com with their article: “Associated Banc-Corp earnings rise 9%” published on October 20, 2016, Biztimes.com published: “Associated Banc-Corp profit up 9% in Q3” on October 21, 2016. More interesting news about Associated Banc Corp (NYSE:ASB) were released by: Prnewswire.com and their article: “Associated Banc-Corp Announces Redemption of All Outstanding Depositary Shares …” published on July 26, 2016 as well as Jsonline.com‘s news article titled: “Klappa joins Associated Banc-Corp board of directors” with publication date: June 23, 2016.

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