Microsoft Corp MSFT:NASDAQ

Last Price$265.90NASDAQ Closing Price as of 4:00PM ET 5/26/22

Today's Change+3.38(1.29%)
Bid (Size)$266.08 (1)
Ask (Size)$266.19 (11)
Day Low / High$261.43 - 267.11
Volume25.0 M

Research Alert: CFRA Maintains Hold Opinion On Shares Of Associated Banc-corp

5:45PM ET 1/21/2022 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target by $3 to $26, 12.8x our '23 EPS estimate, slightly below ASB's 5-year forward P/E avg. of 13.2x on continued economic uncertainty. We lift our '22 EPS estimate by $0.11 to $1.68 on an improved rate environment and start '23's at $2.04. ASB posted Q4 adj. EPS of $0.49 vs. $0.41, $0.07 above consensus due to a net reserve release of $12 million. Net interest income (NII) increased 2% Q/Q, driven by decreasing liability costs and an expansion in securities. In '22, we expect NII to grow 10%-12%, bolstered by wider spreads from higher-than-expected interest rates and loan growth of 8%-10%. Noninterest income fell 1% Q/Q, driven by lower asset gains and mortgage banking income, partly offset by strong capital markets activity. Credit risk quality was excellent in the quarter with near record low net charge-offs of 0.10% that should slowly rise in '22. However, we maintain our Hold rating as we believe current share price is close to fair value.