ESSA Bancorp, Inc. (NASDAQ:ESSA) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 32,200 shares, a growth of 20.1% from the June 30th total of 26,800 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 10,000 shares, the days-to-cover ratio is presently 3.2 days.
Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in ESSA Bancorp by 14.2% in the second quarter. Morgan Stanley now owns 14,534 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 1,804 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of ESSA Bancorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 482,978 shares of the financial services provider’s stock valued at $7,366,000 after purchasing an additional 18,195 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of ESSA Bancorp by 0.4% during the second quarter. BlackRock Inc. now owns 481,868 shares of the financial services provider’s stock valued at $7,349,000 after purchasing an additional 1,752 shares in the last quarter. US Bancorp DE bought a new position in shares of ESSA Bancorp during the second quarter valued at $168,000. Finally, Northern Trust Corp lifted its holdings in shares of ESSA Bancorp by 1.9% during the second quarter. Northern Trust Corp now owns 134,085 shares of the financial services provider’s stock valued at $2,045,000 after purchasing an additional 2,555 shares in the last quarter. 42.54% of the stock is owned by institutional investors.
Shares of ESSA Bancorp stock traded down $0.18 on Wednesday, hitting $14.72. The stock had a trading volume of 11,100 shares, compared to its average volume of 12,546. The company has a 50 day moving average of $15.05. ESSA Bancorp has a twelve month low of $14.15 and a twelve month high of $16.80. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $168.17 million, a price-to-earnings ratio of 13.78 and a beta of 0.20.
ESSA Bancorp, Inc operates as the holding company for ESSA Bank & Trust that provides a range of financial services to individuals, families, and businesses in Pennsylvania. The company accepts savings accounts, interest bearing demand accounts, checking accounts, money market accounts, club accounts, certificates of deposit and IRAs, and other qualified plan accounts, as well as commercial checking accounts.
Further Reading: How does a margin account work?
Receive News & Ratings for ESSA Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ESSA Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.