Wells Fargo lifts Associated Banc-Corp [ASB] price estimate. Who else is bullish?

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Associated Banc-Corp [NYSE: ASB] price surged by 0.44 percent to reach at $0.06. The company report on October 1, 2020 that La-Z-Boy Receives 2020 ASCM Award of Excellence for Making an Impact Through the Supply Chain.

La-Z-Boy today announced it is the recipient of the 2020 Award of Excellence – Making an Impact from the Association for Supply Chain Management (ASCM), the global leader in supply chain learning, transformation, innovation and leadership. Darrell Edwards, SVP and Chief Operating Officer, will be featured in a LinkedIn Live interview on Tuesday, October 20, at 1:00 p.m. Central.

La-Z-Boy received the award for its commitment to record-breaking safety performance, sustainability through environmental health and stewardship, and numerous philanthropic and volunteer initiatives within its communities. The company currently has eight zero-waste-to-landfill-endorsed facilities, 97% of its manufacturing waste is reused or recycled, and water conservation efforts have reduced usage by more than 25,000,000 gallons a year.

A sum of 1587972 shares traded at recent session while its average daily volume was at 1.23M shares. Associated Banc-Corp shares reached a high of $13.86 and dropped to a low of $13.65 until finishing in the latest session at $13.77.

The one-year ASB stock forecast points to a potential upside of 13.61. The average equity rating for ASB stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Associated Banc-Corp [ASB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASB shares is $15.94 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASB stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Associated Banc-Corp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 08, 2020. The new note on the price target was released on July 09, 2020, representing the official price target for Associated Banc-Corp stock. Previously, the target price had yet another drop from $19 to $15, while Wells Fargo kept a Equal Weight rating on ASB stock.

The Average True Range (ATR) for Associated Banc-Corp is set at 0.48, with the Price to Sales ratio for ASB stock in the period of the last 12 months amounting to 2.02. The Price to Book ratio for the last quarter was 0.57, with the Price to Cash per share for the same quarter was set at 14.49. Price to Free Cash Flow for ASB in the course of the last twelve months was 3.43.

ASB Stock Performance Analysis:

Associated Banc-Corp [ASB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.07. With this latest performance, ASB shares gained by 10.34% in over the last four-week period, additionally plugging by 13.52% over the last 6 months – not to mention a drop of -33.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASB stock in for the last two-week period is set at 54.08, with the RSI for the last a single of trading hit 56.24, and the three-weeks RSI is set at 53.54 for Associated Banc-Corp [ASB]. The present Moving Average for the last 50 days of trading for this stock 13.42, while it was recorded at 13.65 for the last single week of trading, and 14.67 for the last 200 days.

Insight into Associated Banc-Corp Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Associated Banc-Corp [ASB] shares currently have an operating margin of +26.62. Associated Banc-Corp’s Net Margin is presently recorded at +20.89.

Return on Total Capital for ASB is now 5.02, given the latest momentum, and Return on Invested Capital for the company is 4.50. Return on Equity for this stock inclined to 8.43, with Return on Assets sitting at 0.98. When it comes to the capital structure of this company, Associated Banc-Corp [ASB] has a Total Debt to Total Equity ratio set at 108.22. Additionally, ASB Total Debt to Total Capital is recorded at 51.98, with Total Debt to Total Assets ending up at 13.06. Long-Term Debt to Equity for the company is recorded at 88.64, with the Long-Term Debt to Total Capital now at 39.78.

ASB Stock EPS

With the latest financial reports released by the company, Associated Banc-Corp posted 0.51/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ASB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Associated Banc-Corp go to 6.00%.

Associated Banc-Corp [ASB] Insider Position Details

There are presently around $1,559 million, or 75.80% of ASB stock, in the hands of institutional investors. The top three institutional holders of ASB stocks are: VANGUARD GROUP INC with ownership of 14,725,734, which is approximately -7.199% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 13,757,245 shares of the stock with an approximate value of $189.44 million in ASB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $161.81 million in ASB stock with ownership of nearly 5.14% of the company’s market capitalization.

Positions in Associated Banc-Corp stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 124 institutional holders increased their position in Associated Banc-Corp [NYSE:ASB] by around 12,551,983 shares. Additionally, 127 investors decreased positions by around 13,101,304 shares, while 41 investors held positions by with 87,569,533 shares. The mentioned changes placed institutional holdings at 113,222,820 shares, according to the latest SEC report filing. ASB stock had 50 new institutional investments in for a total of 3,118,302 shares, while 33 institutional investors sold positions of 2,755,571 shares during the same period.

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