Associated Banc-Corp [NYSE: ASB] traded at a high on 09/10/21, posting a 2.93 gain after which it closed the day’ session at $20.70. The company report on September 10, 2021 that Associated Bank announces new strategic plans to accelerate its business.
Associated Banc-Corp (NYSE: ASB) announced plans for the expansion of its lending capabilities, growth of its core businesses, and transformation of its digital strategy. These plans include new higher-margin lending verticals and digital investments which are expected to increase the pace of growth while creating positive operating leverage and enhancing customer experience.
“Given the strength of our Midwest markets and our already solid foundation, we have a significant opportunity to strategically drive revenue growth across our core business lines while also expanding our portfolio,” said Andy Harmening, president and CEO, Associated Bank. “Building on our momentum over the last 120 days and capitalizing on the strengths of our franchise, our growth focused and digital forward initiatives will position us to deliver higher shareholder returns.”.
The results of the trading session contributed to over 2344659 shares changing hands. Over the past one week, the price volatility of Associated Banc-Corp stands at 2.26% while the volatility over the past one month is 2.21%.
The market cap for ASB stock reached $3.08 billion, with 152.04 million shares outstanding and 149.25 million shares in the current float. Compared to the average trading volume of 1.74M shares, ASB reached a trading volume of 2344659 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $21.50 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 Equal Weight, with their previous recommendation back on June 04, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $16 to $18. The new note on the price target was released on October 08, 2020, representing the official price target for Associated Banc-Corp stock. On March 30, 2020, analysts decreased their price target for ASB shares from 19 to 15.
The Average True Range (ATR) for Associated Banc-Corp is set at 0.49, with the Price to Sales ratio for ASB stock in the period of the last 12 months amounting to 3.75. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 13.17. Price to Free Cash Flow for ASB in the course of the last twelve months was 9.30.
How has ASB stock performed recently?
Associated Banc-Corp [ASB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.32. With this latest performance, ASB shares dropped by -2.86% in over the last four-week period, additionally sinking by -10.54% over the last 6 months – not to mention a rise of 59.35% 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 53.55, with the RSI for the last a single of trading hit 56.07, and the three-weeks RSI is set at 51.99 for Associated Banc-Corp [ASB]. The present Moving Average for the last 50 days of trading for this stock 20.18, while it was recorded at 20.22 for the last single week of trading, and 20.33 for the last 200 days.
Associated Banc-Corp [ASB]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Associated Banc-Corp [ASB] shares currently have an operating margin of +13.36. Associated Banc-Corp’s Net Margin is presently recorded at +24.21.
Return on Total Capital for ASB is now 2.28, given the latest momentum, and Return on Invested Capital for the company is 4.63. Return on Equity for this stock inclined to 7.61, with Return on Assets sitting at 0.92. When it comes to the capital structure of this company, Associated Banc-Corp [ASB] has a Total Debt to Total Equity ratio set at 60.40. Additionally, ASB Total Debt to Total Capital is recorded at 37.66, with Total Debt to Total Assets ending up at 7.39. Long-Term Debt to Equity for the company is recorded at 50.63, with the Long-Term Debt to Total Capital now at 28.84.
Earnings analysis for Associated Banc-Corp [ASB]
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%.
Insider trade positions for Associated Banc-Corp [ASB]
There are presently around $2,565 million, or 82.60% of ASB stock, in the hands of institutional investors. The top three institutional holders of ASB stocks are: BLACKROCK INC. with ownership of 17,656,217, which is approximately 30.49% of the company’s market cap and around 1.70% of the total institutional ownership; VANGUARD GROUP INC, holding 15,207,424 shares of the stock with an approximate value of $314.79 million in ASB stocks shares; and STATE STREET CORP, currently with $222.66 million in ASB stock with ownership of nearly 34.251% 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 121 institutional holders increased their position in Associated Banc-Corp [NYSE:ASB] by around 16,197,584 shares. Additionally, 133 investors decreased positions by around 10,490,274 shares, while 45 investors held positions by with 97,245,475 shares. The mentioned changes placed institutional holdings at 123,933,333 shares, according to the latest SEC report filing. ASB stock had 27 new institutional investments in for a total of 1,013,129 shares, while 38 institutional investors sold positions of 2,588,721 shares during the same period.