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Thursday, December 9, 2021

Is the Rough Ride Over for Associated Banc-Corp (ASB)

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Associated Banc-Corp (ASB) shares are trading at lower $15.32 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $16.00.

To add more color to this target, the company’s high over the last year is $22.60 and the low is $10.23. Over the last 52 weeks, ASB is down -28.54% while the S&P 500 is up 15.19%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ASB reported a profit of $182.15 million. Associated Banc-Corp also saw revenues increase to $213.07 million. In addition, ASB has free cash flow of $388.62 million as of 09-2020.

ASB booked profit margins of 30.20%, its Return on Equity (ROE) is 8.00%, and its Return on Assets is 0.90%. All told, it is clear that, ASB needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ASB has a short ratio of 2.04 and outstanding shares of 152.44M.

Company Outlook

ASB has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.77 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.90. Investors should also keep an eye on sector updates as ASB has historically followed its peers on positive news.

All told, Associated Banc-Corp ASB has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ASB represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Associated Banc-Corp ASB is now commanding a market cap of 2.37B and a float of 150.31M. ASB is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ASB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ASB, either long or short, and we have not been compensated for this article.

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