Associated Banc-Corp (NYSE:ASB) Short Interest Up 20.6% in December

Associated Banc-Corp (NYSE:ASB) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 4,883,428 shares, an increase of 20.6% from the December 15th total of 4,048,872 shares. Based on an average trading volume of 2,018,955 shares, the short-interest ratio is currently 2.4 days. Approximately 3.0% of the company’s stock are sold short. Approximately 3.0% of the company’s stock are sold short. Based on an average trading volume of 2,018,955 shares, the short-interest ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

ASB has been the topic of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $30.00 price objective (up from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Barclays decreased their price target on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. UBS Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of Associated Banc in a research report on Tuesday, December 2nd. Wall Street Zen lowered Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Associated Banc in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.50.

Associated Banc Stock Performance

Shares of Associated Banc stock traded down $0.41 during trading hours on Tuesday, reaching $26.14. 554,223 shares of the stock traded hands, compared to its average volume of 2,217,864. Associated Banc has a one year low of $18.32 and a one year high of $27.58. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 0.74 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average price of $26.11 and a 200 day moving average price of $25.76.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. Associated Banc had a net margin of 7.23% and a return on equity of 9.45%. The company had revenue of $390.71 million for the quarter, compared to the consensus estimate of $377.94 million. During the same quarter last year, the firm posted $0.56 earnings per share. On average, equities research analysts expect that Associated Banc will post 2.43 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. Associated Banc’s payout ratio is presently 102.13%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the completion of the sale, the executive vice president directly owned 109,842 shares in the company, valued at approximately $2,900,927.22. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick Edward Ahern sold 30,489 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $25.70, for a total transaction of $783,567.30. Following the completion of the transaction, the executive vice president owned 24,055 shares in the company, valued at approximately $618,213.50. This represents a 55.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,951 shares of company stock valued at $925,756 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its holdings in Associated Banc by 2,033.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after acquiring an additional 1,139 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Associated Banc by 46.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after purchasing an additional 408 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,047 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Associated Banc during the 2nd quarter valued at $34,000. Finally, Quent Capital LLC bought a new position in Associated Banc in the 3rd quarter worth $34,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.