Associated Banc-Corp PT Raised to $17.00 (ASBC)
Investment analysts at Jefferies Group increased their target price on shares of Associated Banc-Corp (NASDAQ: ASBC) from $16.00 to $17.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock.
The analysts wrote, “Recent meetings with Associated CFO Chris Niles reinforced our view that the company has levers to pull on earnings power, including stepped-up capital return plans, expense optimization, and continued reserve release. We take our ’13 EPS estimate to $1.05 (from $1.00) and ’14 goes to $1.15 (from $1.10).”
Shares of Associated Banc-Corp (NASDAQ: ASBC) traded up 0.33% during mid-day trading on Friday, hitting $15.18. Associated Banc-Corp has a one year low of $11.67 and a one year high of $15.35. The stock’s 50-day moving average is currently $14.60. The company has a market cap of $2.550 billion and a P/E ratio of 15.13.
Associated Banc-Corp (NASDAQ: ASBC) last released its earnings data on Thursday, January 17th. The company reported $0.26 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.26. During the same quarter last year, the company posted $0.23 earnings per share. Analysts expect that Associated Banc-Corp will post $1.04 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Associated Banc-Corp from $14.00 to $15.00 in a research note to investors on Tuesday, March 12th. They now have a “hold” rating on the stock. Separately, analysts at Morgan Stanley upgraded shares of Associated Banc-Corp from an “underweight” rating to an “equal weight” rating in a research note to investors on Tuesday, February 5th. They now have a $14.00 price target on the stock, up previously from $13.00. Finally, analysts at Oppenheimer downgraded shares of Associated Banc-Corp from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, February 5th. They now have a $15.00 price target on the stock. They noted that the move was a valuation call.
One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.57.
Associated Banc-Corp is a bank holding company. During the year ended December 31, 2009, the Company owned one nationally chartered commercial bank headquartered in Wisconsin, serving local communities in Wisconsin, Illinois and Minnesota.
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