Short Interest in Associated Banc Corp Declines By 24.1% (ASBC)
Shares of Associated Banc Corp (NASDAQ:ASBC) were the target of a significant drop in short interest in August. As of August 15th, there was short interest totalling 6,359,185 shares, a drop of 24.1% from the July 31st total of 8,376,028 shares, Analyst Ratings News reports. Approximately 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 821,031 shares, the days-to-cover ratio is presently 7.7 days.
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. Associated Banc Corp has a consensus rating of “Hold” and an average price target of $18.50.
Associated Banc Corp (NASDAQ:ASBC) opened at 18.34 on Wednesday. Associated Banc Corp has a 1-year low of $15.06 and a 1-year high of $19.06. The stock has a 50-day moving average of $17.92 and a 200-day moving average of $17.66. The company has a market cap of $2.840 billion and a price-to-earnings ratio of 16.53.
Associated Banc Corp (NASDAQ:ASBC) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.28 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.28. During the same quarter in the prior 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. Investors 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 1.98%. 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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