The stock of ESSA Bancorp, Inc. (NASDAQ:ESSA) reached all time high today, Nov, 14 and still has $20.55 target or 43.00% above today’s $14.37 share price. This indicates more upside for the $167.84M company. This technical setup was reported by Barchart.com. If the $20.55 PT is reached, the company will be worth $72.17 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 25,560 shares traded hands or 53.44% up from the average. ESSA Bancorp, Inc. (NASDAQ:ESSA) has risen 6.38% since April 12, 2016 and is uptrending. It has outperformed by 1.40% the S&P500.
According to Zacks Investment Research, “ESSA Bancorp, Inc. operates as the holding company for ESSA Bank & Trust and is the leading service-oriented financial institution that provides services to individuals, families, and businesses in greater Pocono, Pennsylvania region. The Bank maintains its corporate headquarters in downtown Stroudsburg, Pennsylvania and has community offices throughout the Pocono area. In addition to being one of the region’s largest mortgage lenders, ESSA Bank & Trust offers a full range of retail and commercial financial services. ESSA Bank & Trust’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, home equity loans and lines of credit, commercial and consumer loans.”
Insitutional Activity: The institutional sentiment increased to 2.12 in Q2 2016. Its up 0.35, from 1.77 in 2016Q1. The ratio is positive, as 10 funds sold all ESSA Bancorp, Inc. shares owned while 7 reduced positions. 16 funds bought stakes while 20 increased positions. They now own 4.39 million shares or 13.62% more from 3.86 million shares in 2016Q1.
Comml Bank Of Ny Mellon Corp accumulated 58,787 shares or 0% of the stock. State Street Corp has 0% invested in the company for 91,829 shares. Brandywine Glob Invest Management Limited Liability holds 0% of its portfolio in ESSA Bancorp, Inc. (NASDAQ:ESSA) for 3,460 shares. Maltese Cap Mngmt Limited Com, a New York-based fund reported 415,600 shares. Northern Tru has invested 0% of its portfolio in ESSA Bancorp, Inc. (NASDAQ:ESSA). California State Teachers Retirement holds 0% or 17,122 shares in its portfolio. Renaissance Tech Limited Co has 0.01% invested in the company for 323,600 shares. Kennedy Capital Management holds 0.03% or 119,688 shares in its portfolio. Gsa Cap Partners Llp last reported 15,436 shares in the company. Moreover, Denali Limited Liability Co has 0% invested in ESSA Bancorp, Inc. (NASDAQ:ESSA) for 120 shares. Bridgeway Cap Mngmt accumulated 0.04% or 175,300 shares. Salzhauer Michael owns 91,846 shares or 0.99% of their US portfolio. Schwab Charles Inv Management Inc accumulated 0% or 12,500 shares. Arbiter Prtnrs Cap Management Ltd holds 0.46% or 263,730 shares in its portfolio. Price T Rowe Assocs Inc Md accumulated 47,200 shares or 0% of the stock.
Insider Transactions: Since June 10, 2016, the stock had 1 insider purchase, and 3 sales for $278,700 net activity. 5,000 shares were sold by Viechnicki William A, worth $70,250. 10,000 shares were sold by Henning Daniel J, worth $136,104. Patterson Stephen H had bought 1,000 shares worth $14,110.
Another recent and important ESSA Bancorp, Inc. (NASDAQ:ESSA) news was published by Businesswire.com which published an article titled: “ESSA Bancorp, Inc. Announces Purchase of Benefit Consulting Insurance Businesses” on May 04, 2011.
ESSA Company Profile
ESSA Bancorp, Inc., incorporated on November 29, 2006, is the Pennsylvania-chartered stock holding firm of ESSA Bank & Trust (the Bank). The Firm provides financial services to individuals, families and businesses through its approximately 30 full-service banking offices, located in Monroe, Northampton and Lehigh counties, Pennsylvania. The Bank’s business consists primarily of accepting deposits from the general public and investing those deposits, together with funds generated from activities 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 offers a range of deposit accounts, including checking, savings and certificates of deposits. It also offers asset management and trust services. The Firm also offers investment services. It offers insurance benefit consulting services through its subsidiary, ESSA Advisory Services, LLC.
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