Associated Banc-Corp (NYSE:ASB) finished Friday with an addition of $0.1 to close at $18.58, an upside of 0.54 percent. An average of 996,260 shares of common stock have been traded in the last five days. There was a fall of -$0.21 in the past week, and it reached a new high 17 times over the past 12 months. The last 20 days have seen an average of 1,524,865 shares traded, while the 50-day average volume stands at 1,493,090.
ASB stock has increased by 5.63% in the last month. The company shares reached their 1-month lowest point of $17.01 on 07/14/23. With the stock rallying to its 52-week high on 02/07/23, shares of the company touched a low of $14.47 and a high of $25.50 in 52 weeks. It has reached a new high 6 times so far this year and lost -19.53% or -$4.51 in price. In spite of this, the price is down -27.14% from the 52-week high.
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Insider Transactions
ASB stock investors should be aware that Associated Banc-Corp (ASB) stock had its last reported insider trading activity 8 days ago on Aug 04. In this transaction, the insider spent $500,365. Director, VAN LITH KAREN, disposed of 4,889 shares at a price of $23.93 on Feb 15. The insider now owns more than $116,995 worth of shares. Prior to that, Director KAMERICK EILEEN A went on to Sale 5,000 shares at $24.00 each on Feb 08. An amount of $120,000 was transacted.
Valuation Metrics
Associated Banc-Corp (ASB) has a trailing price-to-earnings (P/E) ratio of 7.34. The stock’s beta is 1.02. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.71, the price-to-book (PB) ratio at 0.71, and the price-to-cash flow ratio at 7.96.
Financial Health
Further, the company has a long term debt to equity ratio of 0.14 and a total debt to equity ratio of 0.14 for the quarter ending June 29. Its gross profit as reported stood at $957.32 million compared to revenue of $1.15 billion.
Earnings Surprise
The analyst consensus anticipated Associated Banc-Corp’s latest quarter earnings to come in at $0.59 per share, but it turned out to be $0.56, a -5.10% surprise. At the end of the quarter ending June 29, Associated Banc-Corp’s stock balance sheet showed total debt was $4.54 billion. Shareholders own equity worth $150.92 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Associated Banc-Corp (ASB) price momentum. RSI 9-day as of the close on 11 August was 54.19%, suggesting the stock is Neutral, with historical volatility in this time frame at 21.54%.
As of today, ASB’s price is $18.62 -1.12% or -$0.21 from its 5-day moving average. ASB is currently trading +8.65% higher than its 20-day SMA and +2.20% higher than its 100-day SMA. However, the stock’s current price level is +25.46% above the SMA50 and -19.43% below the SMA200.
The stochastic %K and %D were 38.83% and 43.60%, respectively, and the average true range (ATR) was 0.54. With the 14-day stochastic at 44.80% and the average true range at 0.56, the RSI (14) stands at 56.51%. The stock has reached -0.10 on the 9-day MACD Oscillator while the 14-day reading was at -0.16.
Analyst Ratings
Raymond James upgraded Associated Banc-Corp (NYSE: ASB) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Mkt perform. The consensus rating for Associated Banc-Corp (ASB) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ASB, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 1 others rate it as a “buy”.
What is ASB’s price target for the next 12 months?
Analysts predict a range of price targets between $18.00 and $22.00, with a median target of $19.50. Taking a look at these predictions, the average price target given by analysts for Associated Banc-Corp (ASB) stock is $19.75.
