NYCB - Associated Banc-Corp: Don't Bank On More Massive Upside (Rating Downgrade)

2024-03-07 17:14:46 ET

Summary

• Associated Banc-Corp received a "strong buy" rating last year and has seen a 27.7% increase in shares since then.
• The bank's deposits and loans have grown, but there has been a decrease in net interest income and profits.
• The bank is still considered a good value investment, but further significant upside may be more difficult to achieve.

One of the best feelings in the world is seeing an opportunity that you were very bullish about appreciate materially in a rather short window of time. Last year, because of the plunge in financial stocks that came about because of the banking crisis, I found myself gravitating toward banks of all shapes and sizes. In many of these cases, I was bullish, rating most of the companies a "buy." But a select few ended up receiving a "strong buy" rating from me. One such firm was Associated Banc-Corp ( ASB ), a regional bank with a history dating back to 1861....

For further details see: