Could Associated Banc Corp (ASB) Change Direction After This Ascending Triangle

July 17, 2017 - By Kurt Siggers

Investors sentiment decreased to 0.94 in 2016 Q4. Its down 0.03, from 0.97 in 2016Q3. It is negative, as 19 investors sold Associated Banc Corp shares while 83 reduced holdings. 38 funds opened positions while 58 raised stakes. 115.05 million shares or 2.01% more from 112.79 million shares in 2016Q3 were reported.
Price T Rowe Associates Md has 0% invested in Associated Banc Corp (NYSE:ASB). Goldman Sachs reported 802,758 shares stake. Amer Interest Grp Inc Inc reported 0.03% of its portfolio in Associated Banc Corp (NYSE:ASB). Clinton Group Incorporated Inc owns 8,370 shares. Blackrock Institutional Na owns 0.02% invested in Associated Banc Corp (NYSE:ASB) for 4.78 million shares. State Teachers Retirement System reported 0.02% in Associated Banc Corp (NYSE:ASB). South Dakota Invest Council invested 0.06% of its portfolio in Associated Banc Corp (NYSE:ASB). Associated Banc, Alabama-based fund reported 2.79 million shares. Wesbanco Bankshares Inc holds 47,796 shares. Zurcher Kantonalbank (Zurich Cantonalbank) reported 5,382 shares. Waratah Capital Advsr Limited holds 0.13% in Associated Banc Corp (NYSE:ASB) or 35,604 shares. Amalgamated Natl Bank holds 0.03% of its portfolio in Associated Banc Corp (NYSE:ASB) for 22,956 shares. 37,455 are owned by Proshare Ltd Com. Vanguard Grp Inc Inc owns 11.78M shares. Sii Invests Wi reported 16,927 shares stake.

The stock of Associated Banc Corp (ASB) formed an ascending triangle with $22.86 target or 8.00 % below today’s $24.85 share price. The 6 months triangle pattern indicates high risk for the $3.76 billion company. If the $22.86 price target is reached, the company will be worth $300.80M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 358,725 shares traded. Associated Banc Corp (NYSE:ASB) has risen 34.85% since July 17, 2016 and is uptrending. It has outperformed by 18.15% the S&P500.

Analysts expect Associated Banc Corp (NYSE:ASB) to report $0.36 EPS on July, 20.They anticipate $0.05 EPS change or 16.13 % from last quarter’s $0.31 EPS. ASB’s profit would be $54.37 million giving it 17.24 P/E if the $0.36 EPS is correct. After having $0.35 EPS previously, Associated Banc Corp’s analysts see 2.86 % EPS growth.

Associated Banc Corp (NYSE:ASB) Ratings Coverage

Among 11 analysts covering Associated Banc (NYSE:ASB), 2 have Buy rating, 1 Sell and 8 Hold. Therefore 18% are positive. Associated Banc had 18 analyst reports since October 9, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, March 30 by SunTrust. The rating was maintained by RBC Capital Markets on Friday, July 7 with “Hold”. The rating was maintained by Barclays Capital with “Equal-Weight” on Tuesday, August 16. Jefferies maintained the stock with “Hold” rating in Wednesday, April 5 report. The firm has “Sector Perform” rating given on Friday, January 22 by RBC Capital Markets. The company was initiated on Tuesday, January 12 by Stephens. The rating was maintained by Wood with “Hold” on Friday, March 24. The firm has “Buy” rating given on Wednesday, January 13 by Deutsche Bank. The rating was downgraded by Jefferies to “Hold” on Monday, November 28. The stock of Associated Banc Corp (NYSE:ASB) earned “Underperform” rating by Macquarie Research on Friday, April 1.

More news for Associated Banc Corp (NYSE:ASB) were recently published by: Prnewswire.com, which released: “Associated Banc-Corp to Announce Second Quarter 2017 Earnings and Hold …” on June 21, 2017. Prnewswire.com‘s article titled: “Associated Bank sponsors new Ballpark App upgrades and offers additional …” and published on July 06, 2017 is yet another important article.

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