ESSA Bancorp, Inc. (NASDAQ:ESSA) has been the object of insider selling activity recently. Daniel J. Henning, Director sold $22,170 worth of shares at an average price of $14.78 on Thu the 8th. The Director now owns $860,048 of the stock as recorded in a recent Form 4 SEC filing. Director Daniel J. Henning let go of 937 shares at a price of $14.75 on Wed the 7th. Henning now owns $880,428 of stock per an SEC filing yesterday.
Daniel J. Henning, Director disclosed the sale of 601 shares of ESSA stock. The shares were purchased at an average price of $14.73. The Director now owns $893,036 of the stock per the Form 4 SEC filing.
ESSA Bancorp, Inc., launched on November 29, 2006, is a holding company for ESSA Bank & Trust (the Bank). The Bank is a community-oriented savings bank. The Bank provides financial services to individuals, families and businesses through its banking offices, located in Monroe, Northampton, Lehigh, Lackawanna, Luzerne, Chester, Delaware and Montgomery Counties, Pennsylvania. The Bank’s business consists primarily of accepting deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in residential first mortgage loans (including construction mortgage loans), commercial real estate loans, home equity loans and lines of credit, commercial and consumer loans (including indirect auto loans). It also offers asset management and trust services. The Bank also offers investment services..
These firms have also modified their investment in ESSA. Tower Research Capital LLC (trc) expanded its investment by buying 292 shares an increase of 80.0% from 12/31/2016 to 03/31/2017. Tower Research Capital LLC (trc) now controls 657 shares valued at $10,000. The total value of its holdings increased 66.7%. As of quarter end Maltese Capital Management LLC had bought a total of 39,300 shares growing its stake by 9.5%. The value of the investment in ESSA went from $6,533,000 to $6,632,000 a change of $99,000 quarter over quarter.
Bridgeway Capital Management Inc reduced its position by selling 38,100 shares a decrease of 21.7%. Bridgeway Capital Management Inc claims 137,200 shares with a value of $2,000,000. The value of the position overall is down by 27.4%. State Street Corp grew its holdings by buying 3,166 shares an increase of 2.7% as of 03/31/2017. State Street Corp controls 120,265 shares worth $1,753,000. The total value of its holdings decreased 4.7%.
On October 28 the company was rated “Hold” by Maxim Group down from the previous “Buy” rating. Maxim Group initiated coverage giving it an initial rating of “Buy” and setting a price target of $15.00.
The company is up by 1.44 percent from yesterday’s close. ESSA Bancorp, Inc. recently declared a dividend for shareholders which will be paid on Friday the 30th of June 2017. The dividend payment will be $0.090 per share for the quarter which comes to $0.36 on an annualized basis. The dividend yield will be $2.40. The ex-dividend date will be Tuesday March 14th, 2017.
It is trading at $15.19 slightly over the 50 day moving average of $14.82 and just below the 200 day moving average of $15.38. The 50 day moving average moved up $0.31 and the 200 day average went down $-0.25 or -1.64%.
The most current P/E ratio is 22.25 and market capitalization is 160.26M. Short traders are more bullish on shares of ESSA Bancorp, Inc. looking at the fall in short interest. The company experienced a fall in short interest of -25.36% between May 15, 2017 and April 28, 2017. Short shares fell 15,750 over that period. With short interest at 46,361 and short average daily volume at 18,070, the short-interest ratio is 2.6 and the percentage of shorted shares was 0.00% on April 28.