The stock of Associated Banc Corp (NYSE:ASB) hit a new 52-week high and has $37.99 target or 62.00% above today’s $23.45 share price. The 6 months bullish chart indicates low risk for the $3.64 billion company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $37.99 price target is reached, the company will be worth $2.26 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 178,659 shares traded hands. Associated Banc Corp (NYSE:ASB) has risen 33.04% since April 12, 2016 and is uptrending. It has outperformed by 28.06% the S&P500.
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 -15.78% below today’s ($23.45) stock price. Associated Banc has been the topic of 8 analyst reports since October 9, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, January 22. Barclays Capital maintained the stock with “Equal-Weight” rating in Friday, October 9 report. The rating was initiated by Stephens with “Equal-Weight” on Tuesday, January 12. The firm has “Underperform” rating by Macquarie Research given on Friday, April 1. On Tuesday, August 16 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The rating was upgraded by Deutsche Bank to “Buy” on Wednesday, January 13.
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.”
Insitutional Activity: The institutional sentiment decreased to 1.08 in 2016 Q2. Its down 0.08, from 1.16 in 2016Q1. The ratio is negative, 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.
Engineers Gate Manager Ltd Partnership last reported 32,418 shares in the company. Commonwealth Of Pennsylvania Public School Empls Retrmt System owns 28,897 shares or 0.01% of their US portfolio. Ibm Retirement Fund holds 0.01% or 15,063 shares in its portfolio. Blackrock Grp Ltd holds 110,452 shares or 0% of its portfolio. Axa has 18,600 shares for 0% of their US portfolio. Fin Architects Inc holds 0% of its portfolio in Associated Banc Corp (NYSE:ASB) for 105 shares. Checchi Cap Advisers Ltd Limited Liability Company has invested 0% of its portfolio in Associated Banc Corp (NYSE:ASB). Moreover, Price T Rowe Inc Md has 0% invested in Associated Banc Corp (NYSE:ASB) for 40,860 shares. The Wisconsin-based Winch Advisory Limited Liability Corp has invested 0.01% in Associated Banc Corp (NYSE:ASB). Calvert Inv Mngmt Inc has 12,014 shares for 0.01% of their US portfolio. State Treasurer State Of Michigan has 0.01% invested in the company for 60,289 shares. Balyasny Asset Limited reported 344,614 shares or 0.04% of all its holdings. Rs Investment Mgmt Co Ltd Liability Co last reported 3.28M shares in the company. The New Jersey-based Blackrock Ltd Llc has invested 0.01% in Associated Banc Corp (NYSE:ASB). The Wisconsin-based Annex Advisory Ser Ltd Limited Liability Company has invested 0.13% in Associated Banc Corp (NYSE:ASB).
More notable recent Associated Banc Corp (NYSE:ASB) news were published by: Jsonline.com which released: “Associated Banc-Corp earnings rise 9%” on October 20, 2016, also Prnewswire.com with their article: “Associated Banc-Corp Announces Increase in Common Stock Dividend” published on October 25, 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 to Present at Bank of America Merrill Lynch Conference on …” published on November 01, 2016 as well as Prnewswire.com‘s news article titled: “Associated Banc-Corp Releases Results of 2016 Dodd-Frank Act Company-Run …” with publication date: October 17, 2016.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.