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KBW Reiterates Underperform on Associated Banc-Corp


KBW is out with its report today on Associated Banc-Corp (NASDAQ: ASBC), reiterating Underperform.

In a note to clients, KBW writes, "Associated reported 2Q11 operating EPS of $0.20 per share, which was above our estimate. Results included $0.11/share of reserve release versus our expectation for $0.06. The quarter was characterized by improving credit quality and better-than-expected loan growth; however, we believe the shares remain fully valued at current levels. Raising estimates; but reiterate Underperform rating and $12 price target."

Shares of ASBC closed Thursday at $13.58.

Posted-In: KBWAnalyst Color Analyst Ratings


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