Associated Banc-Corp (ASB) Shares Active after Upgrade at Bank of America Corp.

Associated Banc-Corp (NYSE: ASB) shares rose in value Thursday Dec 15 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Analysts at Bank of America Corp. upgraded shares of Associated Banc-Corp (NYSE: ASB) from Underperform to Neutral today. Bank of America Corp. currently has a rating of Neutral on the shares. As a means of comparison, a number of other analysts have issued reports on the stock recently, and the company has earned a consensus one-year price target of $22.25, lower than the opening price of $24.90. Associated Banc-Corp stock has a 52-week high of $25.20. Typically, after analysts assign an upgrade report on a stock, they will subsequently issue recurring updates, often followed by a price target change.

Associated Banc-Corp (NYSE: ASB) shares last traded at $24.95, which is an increase of $0.35 or 1.42% from the previous closing price. Opening at $24.90, they fluctuated from $24.65 and $25.05 throughout the day.

Associated Banc-Corp (NYSE: ASB) now has a market cap of 3.71B.

Associated Banc-Corp (NYSE: ASB) Average Daily Trading Volume

122,927 shares crossed the trading desk yesterday, below the norm, out of a total float 147,086,000. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume aggregation or circulation by institutional investors.

However, just a day of high volume buy side trading is not enough to assert a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.

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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.

With that in mind, Associated Banc-Corp (NYSE: ASB) now has a 50-day MA of $22.29 and 200-day MA of $19.63. It has traded in a 52-week range between $15.45 – 25.20 and today’s last price is 0.99%% lower than the 52 week high of $25.20.

Indeed, earnings growth is among the most crucial 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% for the past 3 years.

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