Associated Banc Corp Sees Large Increase in Short Interest (ASBC)
Shares of Associated Banc Corp (NASDAQ:ASBC) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 6,271,418 shares, an increase of 29.1% from the April 15th total of 4,857,383 shares, AnalystRatingsNetwork reports. Based on an average daily volume of 1,043,403 shares, the short-interest ratio is presently 6.0 days. Currently, 3.9% of the shares of the company are sold short.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Associated Banc Corp in a research note on Tuesday, April 22nd. They now have a $20.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Associated Banc Corp from $15.50 to $17.50 in a research note on Monday, April 21st. Finally, analysts at DA Davidson reiterated a “neutral” rating on shares of Associated Banc Corp in a research note on Monday, April 21st. They now have a $19.50 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $18.09.
Shares of Associated Banc Corp (NASDAQ:ASBC) opened at 17.17 on Thursday. Associated Banc Corp has a 52 week low of $14.80 and a 52 week high of $18.70. The stock has a 50-day moving average of $17.56 and a 200-day moving average of $17.12. The company has a market cap of $2.738 billion and a P/E ratio of 15.95.
Associated Banc Corp (NASDAQ:ASBC) last announced its earnings results on Thursday, April 17th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.02. During the same quarter last year, the company posted $0.27 earnings per share. On average, analysts predict that Associated Banc Corp will post $1.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, May 29th.
Associated Banc-Corp (NASDAQ:ASBC) is a bank holding company.
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