Associated Banc-Corp (NYSE: ASB) shares rose on Friday January 20 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, U.S. stocks rose Friday morning as Wall Street closely awaited Donald Trump’s inauguration as the nation’s 45th president.
The Dow Jones Industrial Average DJIA, +0.41% rose 95 points, or 0.5%, to 19,826, while the S&P 500 index SPX, +0.41% climbed 11 points, or 0.5%, to 2,275 and the Nasdaq Composite COMP, +0.37% added 28 points, or 0.6%, to 5,571.
Associated Banc-Corp (NYSE: ASB) had its price target boosted by equities researchers at Barclays PLC from $0.00 to $26.00. With a rating of on the stock, the company has a 52-week high of $25.43. The one-year price target of $24.29 is a decrease compared to the opening price of $24.80, causing a fair amount of other analysts to comment on the stock in recent days.
Yesterday Associated Banc-Corp (NYSE: ASB) shares last traded at $24.98, which represents a spike of $0.68 over the previous closing price. Opening at $24.80, they varied from $24.60 and $25.05 throughout the day.
Associated Banc-Corp (NYSE: ASB) now has a market cap of 3.72B.
Associated Banc-Corp (NYSE: ASB) Average Daily Trading Volume
The stock’s average daily volume is 901,552 shares out of a total float 147,098,000 and some 135,158 shares crossed the trading desk yesterday, 104 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that research thousands of stocks, so it is good validation to see them taking a postion in a stock you are researching.
Associated Banc-Corp (NYSE: ASB) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Associated Banc-Corp (NYSE: ASB) now has a 50-day MA of $24.69 and 200-day MA of $20.84. It has traded in a 52-week range between $15.45 – 25.430 and today’s last price is 1.79%% lower than the 52 week high of $25.43.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors look for companies that have been successful at growing their earnings by at least 25% over the past 3 years.
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