Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Associated Banc-Corp shares valued at $297,170 were sold by Utz John A. on Oct 25. At $23.48 per share, Utz John A. sold 12,659 shares. The insider’s holdings dropped to 73,022 shares worth approximately $1.74 million following the completion of this transaction.
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Also, KAMERICK EILEEN A sold 4,000 shares, netting a total of over 81,407 in proceeds. Following the sale of shares at $20.35 each, the insider now holds 48,326 shares.
Before that, WILLIAMS JOHN B had added 1,000 shares to its account. In a trade valued at $19,852, the Director bought Associated Banc-Corp shares for $19.85 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $0.19 million.
As published in a research note from BofA Securities on October 25, 2022, Associated Banc-Corp [ASB] has been rated up from an Underperform to a Neutral and the price target has been revised to $24. This represents a 0.58% premium over Thursday’s closing price. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late March. Earlier on June 04, 2021, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for ASB stock which previously was a “an Overweight”.
Analyzing ASB Stock Performance
On Thursday, Associated Banc-Corp [NYSE: ASB] rose 0.46% to $23.86. The stock’s lowest price that day was $23.21, but it reached a high of $23.97 in the same session. During the last five days, there has been a surge of approximately 0.34%. Over the course of the year, Associated Banc-Corp shares have jumped approximately 5.62%. 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 $21.37, while a 200-day SMA reached $21.42. Nevertheless, trading volume fell to 1.05 million shares from 1.39 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 23.39, which, if violated, would cause prices to drop to 22.92. In the upper region, resistance lies at 24.15. The next price resistance is at 24.44. RSI (Relative Strength Index) is 63.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.90, which suggests the price will decrease in the coming days. Percent R is at 23.98%, 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 $295,514,107. Dimensional Fund Advisors LP acquire a 5.70% interest valued at $208.01 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 $75.52 million.
In terms of Associated Banc-Corp share price expectations, FactSet research, analysts set an average price target of $24.75 in the next 12 months, up nearly 1.05% from the previous closing price of $23.75. Analysts anticipate Associated Banc-Corp stock to reach $28.00 by 2022, with the lowest price target being $23.00. In spite of this, 10 analysts ranked Associated Banc-Corp stock as a Hold at the end of 2022. On October 08, 2020, Wells Fargo assigned a price target of “an Overweight” to the stock and upgraded coverage with a $18.