New Lifetime High Reached By Associated Banc-Corp (ASB)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Associated Banc-Corp ( ASB) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Associated Banc-Corp as such a stock due to the following factors:

  • ASB has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $14.0 million.
  • ASB has traded 2,100 shares today.
  • ASB is trading at a new lifetime high.

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More details on ASB:

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products and services to individuals and businesses in Wisconsin, Illinois, and Minnesota. The stock currently has a dividend yield of 2%. ASB has a PE ratio of 16. Currently there is 1 analyst that rates Associated Banc-Corp a buy, 1 analyst rates it a sell, and 10 rate it a hold.

The average volume for Associated Banc-Corp has been 643,800 shares per day over the past 30 days. Associated Banc-Corp has a market cap of $3.0 billion and is part of the financial sector and banking industry. The stock has a beta of 1.40 and a short float of 4.6% with 9.79 days to cover. Shares are up 3.9% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Associated Banc-Corp as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, solid stock price performance and attractive valuation levels. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:
  • ASB's revenue growth has slightly outpaced the industry average of 0.1%. Since the same quarter one year prior, revenues slightly increased by 6.0%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • ASSOCIATED BANC-CORP has improved earnings per share by 11.1% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, ASSOCIATED BANC-CORP increased its bottom line by earning $1.17 versus $1.10 in the prior year. This year, the market expects an improvement in earnings ($1.21 versus $1.17).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500, but is less than that of the Commercial Banks industry average. The net income increased by 3.3% when compared to the same quarter one year prior, going from $45.20 million to $46.67 million.
  • The stock has risen over the past year as investors have generally rewarded the company for its earnings growth and other positive factors like the ones we have cited in this report. The stock's price rise over the last year has driven it to a level which is somewhat expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.

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