Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Associated Banc-Corp. shares valued at $117,019 were sold by VAN LITH KAREN on Mar 06 ’24. At $21.28 per share, VAN LITH KAREN sold 5,499 shares. The insider’s holdings dropped to 61,178 shares worth approximately $1.26 million following the completion of this transaction.
Also, Utz John A. sold 14,010 shares, netting a total of over 297,031 in proceeds. Following the sale of shares at $21.20 each, the insider now holds 89,880 shares.
Before that, KAMERICK EILEEN A had sold 5,000 shares from its account. In a trade valued at $105,101, the Director traded Associated Banc-Corp. shares for $21.02 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $1.03 million.
As published in their initiating research note from Barclays on March 08, 2024, Associated Banc-Corp. [ASB] has been an Equal weight and the price target has been revised to $22. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early October. As of September 05, 2023, Robert W. Baird has increased its “Neutral” rating to a “an Outperform” for ASB. Earlier on July 06, 2023, Raymond James upgraded its rating. Their new recommendation was “an Outperform” for ASB stock which previously was a “a Mkt perform”.
Analyzing ASB Stock Performance
During the last five days, there has been a drop of approximately -2.00%. Over the course of the year, Associated Banc-Corp. shares have dropped approximately -3.88%. Shares of the company reached a 52-week high of $22.16 on 01/26/24 and a 52-week low of $19.40 on 02/13/24. A 50-day SMA is recorded $20.69, while a 200-day SMA reached $18.85. Nevertheless, trading volume fell to 1.03 million shares from 1.33 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 20.29, which, if violated, would cause prices to drop to 20.02. In the upper region, resistance lies at 20.76. The next price resistance is at 20.96. RSI (Relative Strength Index) is 45.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 76.71%, indicating bearish price movement. Stochastics %K at holding 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 Mar 15, 2024 jumping by 0.15 million shares to 4.06 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.91 million shares. A jump of 3.69% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.99 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.99.
