The Vanguard Group, Inc. has recently announced that it has increased stake in Associated Banc-Corp (NYSE:ASB) by 0.23%. After grabbing 15.31 million shares, the institutional investor is now in possession of 34712.0 shares of the Financial Company. The new investment brought the stake of investor firm to 10.17% having worth around $272.97 million. Moreover, Dimensional Fund Advisors LP increased its share by 0.21 million to have a control over 11.05 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.32 million shares by acquiring 8.24 million shares or 5.47% of the stake.
Associated Banc-Corp (ASB) concluded trading on 05/24/23 at a closing price of $15.57, with 1.25 million shares of worth about $19.47 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -35.93% during that period and on Wednesday the price saw a loss of about -2.20%. Currently the company’s common shares owned by public are about 149.76M shares, out of which, 146.56M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the ASB stock and their offered price forecasts bring an average price target of $19.89. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $24.00 and could fall to a lowest price of $18.00. The stock’s current price level is 21.72% above of average price target set by the analysts, while a rise to estimated low would result in gain of 13.5% for the stock. However, touching the estimated high of $24.00 would mean a gain of 35.12% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 230 times over the past 12 months. They bought 349,396 shares in 198 of the transactions. In 32 selling transactions, insiders dumped 137,211 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Associated Banc-Corp iShares Core S&P Mid Cap ETF is currently holding 4.69 million shares of worth totaling $83.66 million. The company recently came buying 21193.0 shares which brought its stake up to 3.12% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 65822.0 shares, after which its hold over company’s outstanding shares expand to 2.94%, leaving 4.43 million shares with the mutual fund that have a worth of about $78.95 million. Vanguard Small Cap Index Fund, after selling 3.74 million shares, have now control over 2.49% of the stake in the company. It holds 918.0 shares of worth $66.71 million.
Associated Banc-Corp (NYSE: ASB) started trading at $15.80, below -$0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 15.88, or with a loss of -2.20%. Stock saw a price change of 0.26% in past 5 days and over the past one month there was a price change of -8.20%. Year-to-date (YTD), ASB shares are showing a performance of -32.57% which decreased to -22.23% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.47 but also hit the highest price of $25.50 during that period. The average intraday trading volume for Associated Banc-Corp shares is 2.14 million. The stock is currently trading -1.32% below its 20-day simple moving average (SMA20), while that difference is down -9.32% for SMA50 and it goes to -26.19% lower than SMA200.
The Vanguard Group, Inc. acquired 15.31 million shares of Associated Banc-Corp having value of about $272.97 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 34712.0 shares in the company valued at close to $540465.84, or have control over 0.23% stake in the company. Associated Banc-Corp (NYSE: ASB) currently have 149.76M outstanding shares and institutions hold larger chunk of about 81.60% of that. Holding of mutual funds in the company is about 5.00% while other institutional holders and individual stake holders have control over 52.09% and 31.87% of the stake respectively.
The stock has a current market capitalization of $2.41B and its 3Y-monthly beta is at 0.99. PE ratio of stock for trailing 12 months is 6.16, while it has posted earnings per share of $2.53 in the same period. Its PEG reads 0.77 while making debt-to-equity ratio of 0.14. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ASB, volatility over the week remained 3.70% while standing at 4.13% over the month.
Analysts are in expectations that Associated Banc-Corp (ASB) stock would likely to be making an EPS of $0.61 in the current quarter, while forecast for next quarter EPS is $0.58 and it is $2.26 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.55 which is $0.67 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.56 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 7.40% while it is estimated to decrease by -5.87% in next year. EPS is likely to shrink at an annualized rate of 8.00% for next 5-years, compared to annual growth of 9.20% made by the stock over the past 5-years.
Analysts at 11 brokerage firms have issued recommendations for the Associated Banc-Corp (ASB)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 11 Wall Street analysts, 1 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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