UBS Maintains a 'Neutral' on Associated Banc-Corp (ASBC); Trimming Estimates and Target

UBS maintains a 'Neutral' on Associated Banc-Corp (NASDAQ: ASBC) price target lowered from $12 to $11.

UBS analyst says, "Due to a persistently challenging interest rate environment, we are slightly reducing our estimates and price target for ASBC. While our 4Q11 estimate of $0.23 remains the same, we are reducing our estimates for 2012 to $0.92 and 2013 to $0.98."

"Margin Pressure is the Driver - Because asset yields remain under pressure, we have mitigated our assumptions for ASBC’s NIM expansion starting in 2H12 through 2013. Specifically, we are reducing our NIM assumptions for 2H12 by 3bps and our 2013 forecast by 6bps which translates into a 2% reduction in 2013 NII."

For an analyst ratings summary and ratings history on Associated Banc-Corp click here. For more ratings news on Associated Banc-Corp click here.

Shares of Associated Banc-Corp closed at $10.12 yesterday.

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