Short Interest in Associated Banc-Corp (NYSE:ASB) Drops By 6.2%

Associated Banc-Corp (NYSE:ASB) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 3,810,000 shares, a decrease of 6.2% from the March 15th total of 4,060,000 shares. Currently, 2.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,470,000 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ASB. Raymond James increased their price target on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Piper Sandler increased their price target on Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a research note on Tuesday, April 9th. Wells Fargo & Company increased their price target on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Barclays assumed coverage on Associated Banc in a report on Friday, March 8th. They set an “equal weight” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Associated Banc presently has an average rating of “Hold” and a consensus price target of $22.63.

Insider Activity

In related news, Director Eileen A. Kamerick sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the transaction, the director now directly owns 50,126 shares of the company’s stock, valued at approximately $1,053,648.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value of $52,785.00. Following the transaction, the director now directly owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the transaction, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. Insiders have sold 21,710 shares of company stock valued at $454,897 in the last ninety days. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Walleye Capital LLC bought a new position in shares of Associated Banc in the 3rd quarter worth $7,561,000. AQR Capital Management LLC increased its position in Associated Banc by 92.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank’s stock valued at $24,524,000 after buying an additional 687,552 shares in the last quarter. Deutsche Bank AG increased its position in Associated Banc by 7.7% during the 3rd quarter. Deutsche Bank AG now owns 123,392 shares of the bank’s stock valued at $2,111,000 after buying an additional 8,836 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in Associated Banc by 2,344.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank’s stock valued at $12,134,000 after buying an additional 680,161 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Associated Banc by 66.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 621,784 shares of the bank’s stock valued at $13,300,000 after buying an additional 247,507 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Associated Banc Stock Down 1.8 %

Shares of ASB stock traded down $0.37 during mid-day trading on Tuesday, hitting $19.90. The stock had a trading volume of 1,208,173 shares, compared to its average volume of 1,441,316. Associated Banc has a 12-month low of $14.47 and a 12-month high of $22.16. The firm has a market capitalization of $3.00 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. The firm’s 50-day moving average is $20.71 and its two-hundred day moving average is $19.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.87.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $322.22 million during the quarter, compared to analyst estimates of $325.89 million. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. On average, analysts predict that Associated Banc will post 2.13 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Thursday, February 29th. Associated Banc’s payout ratio is 77.88%.

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.