Price Action Alert: Can ESSA Bancorp, Inc.’s Tomorrow be Different? The Stock Just Broke Its High

Price Action Alert: Can ESSA Bancorp, Inc.'s Tomorrow be Different? The Stock Just Broke Its High

The stock of ESSA Bancorp, Inc. (NASDAQ:ESSA) reached all time high today, Nov, 24 and still has $15.22 target or 3.00% above today’s $14.78 share price. This indicates more upside for the $168.17 million company. This technical setup was reported by Barchart.com. If the $15.22 PT is reached, the company will be worth $5.05 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. The stock increased 0.27% or $0.04 on November 23, hitting $14.78. About 18,806 shares traded hands. ESSA Bancorp, Inc. (NASDAQ:ESSA) has risen 8.76% since April 22, 2016 and is uptrending. It has outperformed by 3.35% the S&P500.

Analysts await ESSA Bancorp, Inc. (NASDAQ:ESSA) to report earnings on January, 25.

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 decreased to 1.2 in 2016 Q2. Its down 0.92, from 2.12 in 2016Q1. The ratio fall, 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.
Bridgeway Management has invested 0.04% of its portfolio in ESSA Bancorp, Inc. (NASDAQ:ESSA). Commercial Bank Of Mellon Corporation holds 0% of its portfolio in ESSA Bancorp, Inc. (NASDAQ:ESSA) for 58,787 shares. Seizert Capital Partners Ltd Company holds 31,024 shares or 0.02% of its portfolio. Blackrock Invest Limited Liability Corporation reported 31,844 shares or 0% of all its holdings. Acadian Asset Ltd Liability Company owns 78,130 shares or 0.01% of their US portfolio. Teachers Advsrs Inc has 0% invested in the company for 13,088 shares. Bancorporation Of America De last reported 7,878 shares in the company. Sei Investments has 0% invested in the company for 7,195 shares. The New York-based Bnp Paribas Arbitrage has invested 0% in ESSA Bancorp, Inc. (NASDAQ:ESSA). Pnc Fincl last reported 13,500 shares in the company. Geode Cap Ltd Liability has invested 0% of its portfolio in ESSA Bancorp, Inc. (NASDAQ:ESSA). Moreover, California State Teachers Retirement Systems has 0% invested in ESSA Bancorp, Inc. (NASDAQ:ESSA) for 17,122 shares. Schwab Charles Invest Incorporated accumulated 12,500 shares or 0% of the stock. Gendell Jeffrey L holds 0.07% of its portfolio in ESSA Bancorp, Inc. (NASDAQ:ESSA) for 24,802 shares. Maltese Capital Management Ltd Liability Co owns 415,600 shares or 0.7% of their US portfolio.

Insider Transactions: Since June 10, 2016, the stock had 1 insider purchase, and 4 insider sales for $312,621 net activity. On Friday, July 29 the insider Viechnicki William A sold $70,250. On Friday, June 10 Henning Daniel J sold $136,104 worth of the stock or 10,000 shares. Patterson Stephen H bought $14,110 worth of ESSA Bancorp, Inc. (NASDAQ:ESSA) on Monday, August 8. Muto Allan A sold $33,921 worth of stock or 2,338 shares.

Another recent and important ESSA Bancorp, Inc. (NASDAQ:ESSA) news was published by Globenewswire.com which published an article titled: “ESSA Bancorp, Inc. (Nasdaq: ESSA) to Ring The Nasdaq Stock Market Closing Bell” on November 15, 2016.

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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