RBC Capital analyst Jon Arfstrom lowered the firm’s price target on Associated Banc-Corp to $18 from $19 and keeps a Sector Perform rating on the shares. The company’s Q3 results were mostly consistent with the firm’s expectations and its peers that have reported, driven by moderate growth and manageable margin pressures, the analyst tells investors in a research note. RBC is reducing its EPS views to the downside however, with FY23 now seen down 2c from prior at $2.25 and FY24 down 20c from prior at $2.10.
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Read More on ASB:
- Associated Banc-Corp Reports Third Quarter 2023 Net Income Available to Common Equity of $80 Million, or $0.53 per Common Share
- Associated Banc-Corp reports Q3 EPS 53c, consensus 52c
- ASB Earnings this Week: How Will it Perform?
- Associated Banc-Corp price target lowered to $19 from $20 at RBC Capital
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