Elmira Savings Bank (NASDAQ:ESBK) Short Interest Up 1,300.0% in September

Elmira Savings Bank (NASDAQ:ESBK) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 2,800 shares, an increase of 1,300.0% from the August 15th total of 200 shares. Based on an average trading volume of 10,300 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Separately, TheStreet downgraded Elmira Savings Bank from a “b-” rating to a “c” rating in a research note on Tuesday, September 10th.

NASDAQ ESBK traded up $0.08 during trading hours on Friday, hitting $14.49. The company’s stock had a trading volume of 21,814 shares, compared to its average volume of 8,768. Elmira Savings Bank has a 52 week low of $13.97 and a 52 week high of $20.47. The company’s 50-day simple moving average is $14.28 and its two-hundred day simple moving average is $15.61. The company has a market capitalization of $49.63 million, a PE ratio of 13.84 and a beta of 0.32.

Elmira Savings Bank (NASDAQ:ESBK) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.21 EPS for the quarter. The company had revenue of $5.22 million during the quarter.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, September 6th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.35%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valicenti Advisory Services Inc. lifted its holdings in shares of Elmira Savings Bank by 1.2% during the 2nd quarter. Valicenti Advisory Services Inc. now owns 125,121 shares of the real estate investment trust’s stock worth $2,008,000 after acquiring an additional 1,500 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Elmira Savings Bank by 30.0% during the 4th quarter. Bank of America Corp DE now owns 8,300 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 1,913 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Elmira Savings Bank by 61.4% during the 2nd quarter. Morgan Stanley now owns 9,937 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 3,780 shares during the last quarter. Hedge funds and other institutional investors own 15.36% of the company’s stock.

Elmira Savings Bank Company Profile

Elmira Savings Bank provides banking products and services to individual and commercial customers. It accepts savings and money market accounts, time deposits, retail and commercial checking accounts, certificates of deposit, individual retirement arrangements, and NOW accounts. The company also provides consumer loans comprising auto, truck, and motorcycle loans; personal loans; boats, recreational vehicles, and other outdoor sports equipment loans; home improvement/equity loans; jacuzzi/hot tub/pool loans; and lines of credit.

Further Reading: 52-Week High/Low

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