Why Associated Banc Corp have been downgraded?

Associated Banc Corp (NYSE:ASB) received a stock rating downgrade from Macquarie on Apr-01-16. In a note to investors, the firm issued an Underperform rating. The analysts previously had a Neutral rating on the stock.

Analysts have a consensus target price of $18.64 in the 12-month period. The price objective is 5.91% higher than the recent closing price of $17.60. The 52-week price range is $15.35-$20.65 and the company has a market capitalization of $2.69 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 8 has assigned a hold rating, Zero says it’s a buy, and 2 have assigned a strong buy rating to the company.

Associated Banc Corp (ASB) on March 31, 2016 announced an expansion of their long-term partnership with Milwaukee Brewers, including the rights to an exclusive Brewers Visa Credit Card as well as new Brewers MasterCard Debit card and checks so fans can truly Bank like a Brewer.

The partnership also includes the continuation of a joint charitable program with the Brewers Community Foundation called “Hits for Homes” that directly benefits Housing Resources, Inc. (HRI), a nonprofit organization that provides support to low- to moderate-income homeowners and home buyers in the Milwaukee community. For every hit recorded by the Brewers during 2016 home games, Associated Bank and Brewers Community Foundation will donate $150 to HRI, up to a combined $100,000.

“Associated Bank has been a proud business partner of the Brewers since 2006 when we launched our Brewers checking,” said Christopher Piotrowski, EVP and chief marketing officer at Associated Bank. “Our partnership with the Brewers is about combining the strengths of our two teams to help build a greater fan experience and strengthen our community.”

Piotrowski explained that other plans for this baseball season include new fan engagement activities at Miller Park including an interactive batting game called “Grand Slam Challenge” and interactive photo booth located in the Main Level Concourse behind Section 113.

“Associated Bank is a highly-valued, long-term supporter of the Brewers, and we are excited to be expanding our partnership,” said Brewers Chief Operating Officer Rick Schlesinger. “This is a relationship that includes elements that not only impact our two organizations, but also benefit our fans and mutual charitable partners in the community.”

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