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The bank reported last month fourth-quarter earnings of $40 million, or 23 cents a share, topping year-earlier earnings of $34 million, or 20 cents.
"At 13.5x '12 EPS, we see valuations as fair, but achievability of outer-year estimates could differentiate names as the Fed's extension of "lowerfor- longer" is assessed," Jefferies analysts wrote in a Jan. 27 report. They added, "Our top picks are PNC and STI in larger regionals and ASBC, FMBI, FNFG, SUSQ, and WAL in smid-caps."
Associated Banc-Corp was upgraded to a
buy from a hold by
Of the 18 analysts who cover the company, 12 rated it a hold. Five analysts considered Associated Banc-Corp a buy and one rated it a sell.
Associated Banc-Corp has a forward P/E of 12.95. The average for banks is 14.27.
First Niagara(FNFG) and
Zions(ZION) have lower P/Es of 8.93 and 9.72, respectively.
TheStreet Ratings gives Associated Banc-Corp a
B- grade with a $15.11 price target. The stock closed Monday at $12.95 and has risen 15.94% year to date.
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-- Written by Alexandra Zendrian
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