Associated Banc Corp Sees Significant Increase in Short Interest (ASBC)
Shares of Associated Banc Corp (NASDAQ:ASBC) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 8,376,028 shares, a growth of 51.8% from the July 15th total of 5,518,236 shares, Analyst RN reports. Currently, 5.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,313,311 shares, the days-to-cover ratio is presently 6.4 days.
In other Associated Banc Corp news, CFO Moral-Niles Christopher Del sold 3,000 shares of Associated Banc Corp stock on the open market in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $17.52, for a total transaction of $52,560.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on ASBC shares. Analysts at Macquarie reiterated a “neutral” rating on shares of Associated Banc Corp in a research note on Monday, July 21st. They now have a $17.50 price target on the stock, up previously from $17.00. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Associated Banc Corp from $17.50 to $18.00 in a research note on Friday, July 18th. Finally, analysts at Robert W. Baird raised their price target on shares of Associated Banc Corp from $17.00 to $18.00 in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.50.
Shares of Associated Banc Corp (NASDAQ:ASBC) traded up 0.23% during mid-day trading on Monday, hitting $17.69. The stock had a trading volume of 594,419 shares. Associated Banc Corp has a one year low of $15.06 and a one year high of $19.06. The stock has a 50-day moving average of $18.09 and a 200-day moving average of $17.49. The company has a market cap of $2.740 billion and a price-to-earnings ratio of 16.05.
Associated Banc Corp (NASDAQ:ASBC) last announced its earnings results on Thursday, July 17th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, analysts predict that Associated Banc Corp will post $1.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, August 28th.
Associated Banc-Corp (NASDAQ:ASBC) is a bank holding company.
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