Market Runner: Can Associated Banc Corp’s Tomorrow be Different? The Stock Just Broke Its High

Market Runner: Can Associated Banc Corp's Tomorrow be Different? The Stock Just Broke Its High

The stock of Associated Banc Corp (NYSE:ASB) hit a new 52-week high and has $27.03 target or 29.00% above today’s $20.95 share price. The 6 months bullish chart indicates low risk for the $3.13 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $27.03 price target is reached, the company will be worth $907.70M 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 689,172 shares traded hands. Associated Banc Corp (NYSE:ASB) has risen 21.89% since April 7, 2016 and is uptrending. It has outperformed by 17.11% 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. Associated Banc has been the topic of 8 analyst reports since October 9, 2015 according to StockzIntelligence Inc. The firm has “Equal-Weight” rating by Barclays Capital given on Tuesday, August 16. The rating was maintained by Barclays Capital with “Equal-Weight” on Friday, October 9. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, January 22 report. The stock of Associated Banc Corp (NYSE:ASB) earned “Underperform” rating by Macquarie Research on Friday, April 1. On Wednesday, January 13 the stock rating was upgraded by Deutsche Bank to “Buy”. On Tuesday, January 12 the stock rating was initiated by Stephens with “Equal-Weight”.

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 Q2 2016. Its down 0.08, from 1.16 in 2016Q1. The ratio turned 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.
Pnc Fin Svcs Gru owns 45,909 shares or 0% of their US portfolio. Blackrock Grp Inc Incorporated has 0% invested in the company for 110,452 shares. Pzena Invest Mngmt Lc last reported 2.31 million shares in the company. State Board Of Administration Of Florida Retirement Systems reported 297,897 shares or 0.02% of all its holdings. Brandywine Inv Mngmt Lc last reported 615,872 shares in the company. Ameriprise Fincl Incorporated has invested 0.01% of its portfolio in Associated Banc Corp (NYSE:ASB). Bnp Paribas Arbitrage holds 0.01% of its portfolio in Associated Banc Corp (NYSE:ASB) for 76,786 shares. Dimensional Fund Advsrs L P reported 10.53 million shares or 0.1% of all its holdings. Ubs Asset Management Americas Inc accumulated 0% or 141,990 shares. Blackrock Investment Management Ltd Liability Co accumulated 0.01% or 442,673 shares. Cubist Systematic Strategies Ltd Liability last reported 0.02% of its portfolio in the stock. The Wisconsin-based Schaper Benz Wise Inv Counsel Wi has invested 0.16% in Associated Banc Corp (NYSE:ASB). Retirement Of Alabama holds 0.02% of its portfolio in Associated Banc Corp (NYSE:ASB) for 193,670 shares. National Planning owns 11,377 shares or 0.02% of their US portfolio. Royal Retail Bank Of Canada accumulated 100,308 shares or 0% of the stock.

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.

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