November 28, 2016 - By Marie Mckinney
In a an analyst note sent to clients and investors today, Jefferies & Co decreased shares of Associated Banc (NYSE:ASB) to a “Hold” rating from a “Buy” rating.
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 -11.83% below today’s ($22.4) stock price. Associated Banc has been the topic of 8 analyst reports since October 9, 2015 according to StockzIntelligence Inc. Stephens initiated Associated Banc Corp (NYSE:ASB) on Tuesday, January 12 with “Equal-Weight” rating. On Wednesday, January 13 the stock rating was upgraded by Deutsche Bank to “Buy”. Barclays Capital maintained it with “Equal-Weight” rating and $20 target price in Friday, October 9 report. Macquarie Research downgraded the stock to “Underperform” rating in Friday, April 1 report. On Friday, January 22 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. As per Tuesday, August 16, the company rating was maintained by Barclays Capital.
About 431,109 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 $48.00M for 17.50 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 Q2 2016. Its down 0.11, from 1.08 in 2016Q1. The ratio worsened, 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.
Victory Cap Mngmt has 0.14% invested in the company for 2.05M shares. Checchi Capital Advisers Limited Liability Company holds 0% or 1,014 shares in its portfolio. Renaissance Techs Lc holds 0.01% of its portfolio in Associated Banc Corp (NYSE:ASB) for 214,279 shares. Panagora Asset Mgmt has 0% invested in the company for 8,979 shares. California State Teachers Retirement Sys last reported 324,490 shares in the company. Ladenburg Thalmann Financial owns 2,896 shares or 0% of their US portfolio. Envestnet Asset has invested 0% of its portfolio in Associated Banc Corp (NYSE:ASB). Dorsey Whitney Trust Com Limited Liability Com has 0.36% invested in the company for 91,580 shares. Vanguard holds 10.80 million shares or 0.01% of its portfolio. Citadel Advsr Ltd Com holds 213,270 shares or 0% of its portfolio. Morgan Stanley owns 146,927 shares or 0% of their US portfolio. National Planning accumulated 0.02% or 11,377 shares. Moreover, Dynamic Cap Mgmt has 0.09% invested in Associated Banc Corp (NYSE:ASB) for 46,554 shares. Brown Brothers Harriman And Co owns 2,792 shares or 0% of their US portfolio. Geode Cap Management Ltd Liability Company, a Massachusetts-based fund reported 961,186 shares.
Associated Banc-Corp is a bank holding company. The company has a market cap of $3.36 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 18.89 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.”
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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