Associated Banc-Corp (ASBC) of Green Bay, Wis., grew its commercial and industrial loans by 11% to $3.7 billion, as of Dec. 30.
Usdin called the company "one of the better regional loan growth stories of late, on the back of both commercial and residential mortgage growth, and said "commercial growth should remain strong, as the bank picks up market share off of the [Bank of Montreal and Marshall & Ilsley] merger, continues to expand national specialty lending relationships, and gains share in [commercial real estate lending] in new urban markets."
Jefferies analyst Emlen Harmon rates Associated Banc-Corp a "Buy," with a $14 price target, estimating the company will earn 95 cents a share in 2012, followed by EPS of $1.10 in 2013.Associated Banc-Corp's shares closed at $12.91 Wednesday, returning 16% year-to-date, following a decline of 26% in 2011. Interested in more on Associated Banc-Corp? See TheStreet Ratings' report card for this stock.
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