Associated Banc-Corp (NYSE:ASB) Short Interest Down 14.5% in October

Associated Banc-Corp (NYSE:ASB - Get Free Report) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 4,670,000 shares, a drop of 14.5% from the September 30th total of 5,460,000 shares. Based on an average daily trading volume, of 1,360,000 shares, the short-interest ratio is currently 3.4 days. Approximately 3.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada lifted their price target on shares of Associated Banc from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday. Piper Sandler boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. StockNews.com cut Associated Banc from a "hold" rating to a "sell" rating in a research note on Wednesday, October 23rd. Robert W. Baird lowered their target price on Associated Banc from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. Finally, Stephens restated an "equal weight" rating and set a $24.00 target price on shares of Associated Banc in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $23.89.

Associated Banc Trading Down 1.0 %

ASB stock traded down $0.23 on Tuesday, reaching $23.55. The company's stock had a trading volume of 1,084,247 shares, compared to its average volume of 1,335,927. The firm has a market cap of $3.55 billion, a PE ratio of 23.78, a PEG ratio of 1.66 and a beta of 0.93. The business has a fifty day simple moving average of $21.88 and a two-hundred day simple moving average of $21.52. Associated Banc has a 12-month low of $15.94 and a 12-month high of $24.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 0.89.

Associated Banc (NYSE:ASB - Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The firm had revenue of $607.54 million during the quarter, compared to analysts' expectations of $336.52 million. During the same period last year, the company posted $0.53 EPS. As a group, research analysts forecast that Associated Banc will post 2.06 EPS for the current year.

Insider Buying and Selling

In related news, EVP Randall J. Erickson sold 23,774 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the transaction, the executive vice president now directly owns 128,680 shares in the company, valued at approximately $2,958,353.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Randall J. Erickson sold 23,774 shares of the company's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the transaction, the executive vice president now directly owns 128,680 shares in the company, valued at approximately $2,958,353.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lith Karen Van sold 8,061 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the sale, the director now owns 54,114 shares in the company, valued at $1,108,254.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock worth $757,214 over the last ninety days. 1.45% of the stock is owned by corporate insiders.

Institutional Trading of Associated Banc

Several large investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank's stock valued at $26,000 after purchasing an additional 907 shares in the last quarter. Quest Partners LLC bought a new position in Associated Banc during the 2nd quarter valued at approximately $38,000. Farther Finance Advisors LLC raised its stake in Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank's stock valued at $69,000 after buying an additional 1,438 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Associated Banc in the first quarter worth $74,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Associated Banc in the second quarter worth $93,000. 82.98% of the stock is owned by institutional investors.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.