Rating Summary: Assoc Banc-Corp (ASB) Loses a Vote of Confidence From Jefferies. What to Expect?

November 28, 2016 - By Louis Casey

Rating Summary: Assoc Banc Corp (ASB) Loses a Vote of Confidence From Jefferies. What to Expect?

Assoc Banc-Corp (ASB) Downgrade

Jefferies has lowered Assoc Banc-Corp (ASB) stock to “Hold” in a an analyst note revealed to investors and clients on 28 November. ASB’s old rating was “Buy”.

About 189,375 shares traded hands. Associated Banc Corp (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 $47.93M for 17.58 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 dived, 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.

Moreover, Ls Invest Advisors Limited Liability Corporation has 0.01% invested in Associated Banc Corp (NYSE:ASB) for 11,828 shares. D E Shaw, a New York-based fund reported 48,515 shares. The Utah-based Utah Retirement has invested 0.01% in Associated Banc Corp (NYSE:ASB). Teacher Retirement Systems Of Texas accumulated 21,049 shares or 0% of the stock. Allianz Asset Ag has 17,051 shares for 0% of their US portfolio. Pnc Financial Ser Grp has 45,909 shares for 0% of their US portfolio. Teachers Retirement Of The State Of Kentucky has invested 0.02% of its portfolio in Associated Banc Corp (NYSE:ASB). Winch Advisory Service Limited Liability Company has invested 0.01% of its portfolio in Associated Banc Corp (NYSE:ASB). Janus Capital Management Ltd Liability Corp, a Colorado-based fund reported 150,500 shares. Winfield Assocs Inc, a Ohio-based fund reported 80 shares. Levin Strategies Lp holds 0.01% of its portfolio in Associated Banc Corp (NYSE:ASB) for 17,775 shares. Weaver C Barksdale & Assocs last reported 0.01% of its portfolio in the stock. Cubist Systematic Strategies Ltd Liability Corp has invested 0.02% of its portfolio in Associated Banc Corp (NYSE:ASB). Fifth Third Bank holds 1,317 shares or 0% of its portfolio. Point72 Asia (Hong Kong) accumulated 0.03% or 1,700 shares.

Associated Banc-Corp is a bank holding company. The company has a market cap of $3.37 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 18.98 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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