Associated Banc-Corp (ASB) Sets 52-Week High; Strong Momentum for Holders

May 18, 2018 - By Susan Price

Associated Banc-Corp (NYSE:ASB) Logo

Investors sentiment increased to 1.34 in Q4 2017. Its up 0.22, from 1.12 in 2017Q3. It improved, as 20 investors sold Associated Banc-Corp shares while 63 reduced holdings. 36 funds opened positions while 75 raised stakes. 117.28 million shares or 2.35% more from 114.59 million shares in 2017Q3 were reported.
Pacad Inv Ltd accumulated 9,000 shares or 0.05% of the stock. Sei Investments Communication accumulated 0% or 19,800 shares. The Massachusetts-based State Street has invested 0.02% in Associated Banc-Corp (NYSE:ASB). Parallax Volatility Advisers L P holds 0% or 27,694 shares in its portfolio. South Dakota Investment Council stated it has 0.08% in Associated Banc-Corp (NYSE:ASB). Fifth Third Bankshares holds 0% or 1,317 shares in its portfolio. Sterling Capital Ltd Liability holds 0.01% or 31,430 shares in its portfolio. D E Shaw And Company accumulated 0% or 34,846 shares. First Advsr Lp has 0.02% invested in Associated Banc-Corp (NYSE:ASB) for 365,857 shares. Bnp Paribas Arbitrage, New York-based fund reported 85,919 shares. Stone Ridge Asset Mgmt Ltd Liability Company reported 0.12% in Associated Banc-Corp (NYSE:ASB). Shelton Capital Mgmt stated it has 0.02% of its portfolio in Associated Banc-Corp (NYSE:ASB). Weaver C Barksdale & invested in 267 shares or 0.01% of the stock. Legal And General Gru Public Limited Company has invested 0% of its portfolio in Associated Banc-Corp (NYSE:ASB). M&T Bancorporation Corporation holds 13,703 shares.

The stock of Associated Banc-Corp (NYSE:ASB) hit a new 52-week high and has $28.53 target or 5.00 % above today’s $27.18 share price. The 5 months bullish chart indicates low risk for the $4.64 billion company. The 1-year high was reported on May, 18 by Barchart.com. If the $28.53 price target is reached, the company will be worth $232.05M 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.

The stock decreased 0.46% or $0.125 during the last trading session, reaching $27.175. About 121,039 shares traded. Associated Banc-Corp (NYSE:ASB) has risen 5.34% since May 18, 2017 and is uptrending. It has underperformed by 6.21% the S&P500.

Analysts await Associated Banc-Corp (NYSE:ASB) to report earnings on July, 19. They expect $0.47 EPS, up 30.56 % or $0.11 from last year’s $0.36 per share. ASB’s profit will be $80.27M for 14.45 P/E if the $0.47 EPS becomes a reality. After $0.50 actual EPS reported by Associated Banc-Corp for the previous quarter, Wall Street now forecasts -6.00 % negative EPS growth.

Associated Banc-Corp (NYSE:ASB) Ratings Coverage

Among 10 analysts covering Associated Banc-Corp (NYSE:ASB), 2 have Buy rating, 0 Sell and 8 Hold. Therefore 20% are positive. Associated Banc-Corp has $30 highest and $26 lowest target. $27.75’s average target is 2.12% above currents $27.175 stock price. Associated Banc-Corp had 15 analyst reports since November 28, 2017 according to SRatingsIntel. The firm has “Hold” rating by SunTrust given on Tuesday, November 28. The firm has “Equal-Weight” rating given on Wednesday, January 31 by Morgan Stanley. The firm earned “Equal-Weight” rating on Monday, April 23 by Barclays Capital. Jefferies maintained the shares of ASB in report on Wednesday, April 25 with “Hold” rating. The stock has “Hold” rating by RBC Capital Markets on Monday, February 5. The stock of Associated Banc-Corp (NYSE:ASB) has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. The stock of Associated Banc-Corp (NYSE:ASB) has “Hold” rating given on Tuesday, January 2 by Barclays Capital. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Thursday, April 19. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, December 13. As per Thursday, April 19, the company rating was maintained by RBC Capital Markets.

More recent Associated Banc-Corp (NYSE:ASB) news were published by: Nasdaq.com which released: “Report: Developing Opportunities within AG Mortgage Investment Trust, Associated Banc-Corp, Reata Pharmaceuticals …” on May 18, 2018. Also Seekingalpha.com published the news titled: “Associated Banc’s (ASB) CEO Philip Flynn on Q1 2018 Results – Earnings Call Transcript” on April 20, 2018. Seekingalpha.com‘s news article titled: “Buy the dip in banks – Morgan Stanley” with publication date: April 30, 2018 was also an interesting one.

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. The company has market cap of $4.64 billion. The Company’s Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications. It has a 19.14 P/E ratio. This segment also provides specialized financial services that comprise interest rate risk management, foreign exchange solutions, and commodity hedging services.

Associated Banc-Corp (NYSE:ASB) Ratings Chart

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