Associated Banc-Corp (NYSE: ASB) stock fell -0.67% on Friday to $20.67 against a previous-day closing price of $20.81. With 1.21 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.28 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $20.98 whereas the lowest price it dropped to was $20.49. The 52-week range on ASB shows that it touched its highest point at $25.78 and its lowest point at $17.45 during that stretch. It currently has a 1-year price target of $23.38. With its current market cap of 3.17 billion, ASB has annualized dividend of $0.80 while the current yield stands at 3.87%. Beta for the stock currently stands at 1.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ASB was down-trending over the past week, with a drop of -2.13%, but this was down by -1.76% over a month. Three-month performance surged to 14.77% while six-month performance fell -10.67%. The stock gained 3.04% in the past year, while it has lost -8.50% so far this year. A look at the trailing 12-month EPS for ASB yields 2.07 with Next year EPS estimates of 2.37. For the next quarter, that number is 0.58. This implies an EPS growth rate of 17.00% for this year and 7.39% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.60%.
Float and Shares Shorts:
At present, 149.08 million ASB shares are outstanding with a float of 146.51 million shares on hand for trading. On Jul 14, 2022, short shares totaled 7.21 million, which was 4.81% higher than short shares on Jun 14, 2022. In addition to Mr. Andrew J. Harmening as the firm’s Pres, CEO & Director, Mr. Christopher J. Del Moral-Niles CFA serves as its Exec. VP & CFO.
Through their ownership of 80.14% of ASB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.01% of ASB, in contrast to 4.96% held by mutual funds. Shares owned by individuals account for 31.19%. As the largest shareholder in ASB with 10.80% of the stake, BlackRock Fund Advisors holds 16,234,586 shares worth 16,234,586. A second-largest stockholder of ASB, The Vanguard Group, Inc., holds 14,716,838 shares, controlling over 9.79% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in ASB, holding 10,358,838 shares or 6.89% stake. With a 2.93% stake in ASB, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 4,399,809 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.82% of ASB stock, is the second-largest Mutual Fund holder. It holds 4,233,086 shares valued at 84.83 million. Vanguard Small Cap Index Fund holds 2.40% of the stake in ASB, owning 3,610,237 shares worth 72.35 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASB since 10 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASB analysts setting a high price target of $28.00 and a low target of $20.00, the average target price over the next 12 months is $23.38. Based on these targets, ASB could surge 35.46% to reach the target high and fall by -3.24% to reach the target low. Reaching the average price target will result in a growth of 13.11% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ASB will report FY 2022 earnings on 01/19/2023. Analysts have provided yearly estimates in a range of $2.30 being high and $2.10 being low. For ASB, this leads to a yearly average estimate of $2.20. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Associated Banc-Corp surprised analysts by $0.14 when it reported $0.57 EPS against a consensus estimate of $0.44. The surprise factor in the prior quarter was $0.09. Based on analyst estimates, the high estimate for the next quarter is $0.64 and the low estimate is $0.53. The average estimate for the next quarter is thus $0.58.
Summary of Insider Activity:
Insiders traded ASB stock several times over the past three months with 14 Buys and 2 Sells. In these transactions, 82,596 shares were bought while 5,712 shares were sold. The number of buy transactions has increased to 196 while that of sell transactions has risen to 58 over the past year. The total number of shares bought during that period was 366,366 while 184,209 shares were sold.