Elmira Savings Bank (NASDAQ:ESBK) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totalling 15,500 shares, a decline of 45.2% from the February 27th total of 28,300 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 4,500 shares, the short-interest ratio is currently 3.4 days.
A hedge fund recently raised its stake in Elmira Savings Bank stock. Bank of America Corp DE boosted its stake in shares of Elmira Savings Bank (NASDAQ:ESBK) by 83.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,300 shares of the real estate investment trust’s stock after buying an additional 6,976 shares during the quarter. Bank of America Corp DE owned 0.44% of Elmira Savings Bank worth $231,000 as of its most recent SEC filing. Institutional investors own 11.68% of the company’s stock.
Separately, ValuEngine downgraded shares of Elmira Savings Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, March 17th.
Shares of NASDAQ:ESBK traded down $1.09 during trading on Thursday, reaching $11.91. 4,200 shares of the stock traded hands, compared to its average volume of 4,914. Elmira Savings Bank has a 52-week low of $11.60 and a 52-week high of $17.95. The stock has a 50-day moving average of $15.32 and a two-hundred day moving average of $15.08. The stock has a market cap of $43.74 million, a P/E ratio of 11.91 and a beta of 0.40.
Elmira Savings Bank (NASDAQ:ESBK) last announced its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $0.27 earnings per share for the quarter. The company had revenue of $5.52 million for the quarter.
The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Thursday, March 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 7.72%. The ex-dividend date of this dividend was Wednesday, March 4th.
About Elmira Savings Bank
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.
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