Elmira Savings Bank Inc (NASDAQ:ESBK) was the target of a sharp decline in short interest in January. As of January 15, there was short interest totaling 3,000 shares, a decrease of 51.6% from the total of 6,200 shares as of December 31. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 5,900 shares, the short-term interest rate ratio is currently 0.5 days.
Hedge funds and other institutional investors have recently changed their holdings in the company. Royal Bank of Canada acquired a new stake in shares of Elmira Savings Bank during Q3 worth approximately $52,000. BlackRock Inc. increased its position in Elmira Savings Bank by 12.9% during the third quarter. BlackRock Inc. now owns 8,552 shares of the real estate investment trust worth $114,000 after purchasing an additional 976 shares during the period. BCK Partners Inc. acquired a new position in Elmira Savings Bank during the third quarter worth approximately $176,000. Dimensional Fund Advisors LP increased its position in Elmira Savings Bank by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,723 shares of the real estate investment trust worth $225,000 after purchasing an additional 727 shares during the period. Finally, Valicenti Advisory Services Inc. increased its position in Elmira Savings Bank by 5.1% during the fourth quarter. Valicenti Advisory Services Inc. now owns 112,411 shares of the real estate investment trust worth $2,570,000 after purchasing an additional 5,494 shares during the period. 9.54% of the shares are currently held by institutional investors and hedge funds.
Shares of NASDAQ ESBK traded at $0.02 during midday trading on Friday, reaching $22.85. 3,722 shares of the company were traded, against an average volume of 8,012. Elmira Savings Bank has a 12-month low of $12.14 and a 12-month high of $23.22. The company has a market capitalization of $79.52 million, a PE ratio of 14.84 and a beta of 1.02. The company’s fifty-day simple moving average is $22.84 and its 200-day simple moving average is $18.72.
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The company also recently announced a quarterly dividend, which was paid on Friday, December 10. Shareholders of record on Friday, December 3 received a dividend of $0.15 per share. This represents an annualized dividend of $0.60 and a dividend yield of 2.63%. The ex-dividend date was Thursday, December 2. Elmira Savings Bank’s dividend payout ratio (DPR) is currently 38.96%.
About Elmira Savings Bank
Elmira Savings Bank provides financial services. Its offers checking, savings, certificates, deposit rates, advisory services, e-services, consumer loans, consumer rates, business loans and mortgages. Its portfolio includes home loans, business loans and consumer loans.
See also: Municipal bonds
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