Keefe, Bruyette & Woods Comments On Associated Banc-Corp Earnings

According to Keefe, Bruyette & Woods, Associated Banc-Corp

reported EPS of $0.09 per share which included $0.08 per share in reserve release. Keefe, Bruyette & Woods said that results were relatively in-line, as lower than expected credit costs offset modestly lower than expected revenues and higher than expected expenses. “Core PTPP earnings declined 14% q/q. Credit trends continue to improve. Reiterate Underperform based on valuation.” Associated Banc-Corp closed the previous trading day at $14.66.