Short Interest in Associated Banc-Corp (NYSE:ASB) Increases By 41.9%

Associated Banc-Corp (NYSE:ASB) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 5,960,000 shares, a growth of 41.9% from the March 15th total of 4,200,000 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is presently 3.7 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ASB. Robert W. Baird reduced their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada raised their price target on Associated Banc from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. StockNews.com lowered Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of Associated Banc in a report on Tuesday, March 25th. Finally, Raymond James dropped their price target on Associated Banc from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.67.

Associated Banc Stock Up 1.3 %

Shares of NYSE ASB opened at $19.93 on Friday. The firm’s 50-day moving average price is $22.32 and its 200-day moving average price is $23.86. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Associated Banc has a 12-month low of $18.32 and a 12-month high of $28.18. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 1.52 and a beta of 0.78.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. On average, equities research analysts anticipate that Associated Banc will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Monday, March 3rd. Associated Banc’s dividend payout ratio is presently 116.46%.

Insider Activity

In other news, Director Eileen A. Kamerick sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the transaction, the director now owns 49,495 shares of the company’s stock, valued at $1,223,021.45. This trade represents a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Williams sold 2,830 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now owns 66,915 shares of the company’s stock, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP increased its position in shares of Associated Banc by 154.3% during the fourth quarter. Quarry LP now owns 1,073 shares of the bank’s stock worth $26,000 after acquiring an additional 651 shares during the period. Covestor Ltd grew its stake in Associated Banc by 221.0% in the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock worth $36,000 after purchasing an additional 1,032 shares in the last quarter. Versant Capital Management Inc increased its holdings in Associated Banc by 385.5% during the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank’s stock worth $36,000 after purchasing an additional 1,280 shares during the period. Smartleaf Asset Management LLC raised its position in Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after purchasing an additional 579 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Associated Banc in the 4th quarter worth $56,000. Institutional investors own 82.98% of the company’s stock.

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.