Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Associated Banc-Corp shares valued at $81,407 were sold by KAMERICK EILEEN A on Sep 02. At $20.35 per share, KAMERICK EILEEN A sold 4,000 shares. The insider’s holdings dropped to 48,326 shares worth approximately $1.01 million following the completion of this transaction.
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Also, WILLIAMS JOHN B purchased 1,000 shares, netting a total of over 19,852 in proceeds. Following the buying of shares at $19.85 each, the insider now holds 8,000 shares.
Before that, KAMERICK EILEEN A had sold 4,500 shares from its account. In a trade valued at $105,953, the Director traded Associated Banc-Corp shares for $23.55 each. Upon closing the transaction, the insider’s holdings decreased to 4,500 shares, worth approximately $1.07 million.
As published in a research note from Wells Fargo on March 21, 2022, Associated Banc-Corp [ASB] has been rated up from an Equal weight to an Overweight and the price target has been revised to $28 from $26. This represents a 25.68% premium over Wednesday’s closing price. As of June 04, 2021, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for ASB. Earlier on October 08, 2020, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for ASB stock which previously was a “an Equal weight”.
Analyzing ASB’s Price Performance
On Wednesday, Associated Banc-Corp [NYSE: ASB] plunged -1.42% to $20.81. The stock’s lowest price that day was $20.80, but it reached a high of $21.36 in the same session. During the last five days, there has been a surge of approximately 0.77%. Over the course of the year, Associated Banc-Corp shares have dropped approximately -7.88%. Shares of the company reached a 52-week high of $25.78 on 02/08/22 and a 52-week low of $17.45 on 07/14/22. A 50-day SMA is recorded $20.33, while a 200-day SMA reached $21.63. Nevertheless, trading volume fell to 1.31 million shares from 1.45 million shares the previous day.
Support And Resistance Levels for Associated Banc-Corp (ASB)
According to the 24-hour chart, there is a support level at 20.62, which, if violated, would cause prices to drop to 20.43. In the upper region, resistance lies at 21.18. The next price resistance is at 21.55. RSI (Relative Strength Index) is 52.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.49, which suggests the price will decrease in the coming days. Percent R is at 28.06%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Associated Banc-Corp subject to short interest?
Stocks of Associated Banc-Corp saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.6 million shares to 7.21 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.61 million shares. A jump of 8.32% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.17 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.17.
Which companies own the most shares of Associated Banc-Corp (ASB)?
According to BlackRock Fund Advisors filings, the company currently owns 16,234,586 shares, which is about 10.80% of the total ASB shares outstanding. The investor’s shares have appreciated by 418,875 from its previous 13-F filing of 15815711.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $294,925,434. Dimensional Fund Advisors LP acquire a 5.70% interest valued at $207.59 million while SSgA Funds Management, Inc. sold a -678,317 stake. A total of -22,394 shares of Associated Banc-Corp were sold by FIAM LLC during the quarter, and 1,774 were bought by Pzena Investment Management LLC. In its current portfolio, Fidelity Management & Research Co holds 3,760,759 shares valued at $75.37 million.
In terms of Associated Banc-Corp share price expectations, FactSet research, analysts set an average price target of $23.38 in the next 12 months, up nearly 6.58% from the previous closing price of $21.11. Analysts anticipate Associated Banc-Corp stock to reach $28.00 by 2022, with the lowest price target being $20.00. In spite of this, 10 analysts ranked Associated Banc-Corp stock as a Hold at the end of 2022.