ESSA Bancorp (NASDAQ:ESSA) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

ESSA Bancorp Price Performance

ESSA Bancorp stock opened at $21.80 on Thursday. The business’s 50-day simple moving average is $20.04 and its 200 day simple moving average is $19.28. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. The stock has a market cap of $221.27 million, a price-to-earnings ratio of 12.53 and a beta of 0.40. ESSA Bancorp has a 12-month low of $15.29 and a 12-month high of $21.80.

ESSA Bancorp (NASDAQ:ESSA) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter. ESSA Bancorp had a net margin of 14.83% and a return on equity of 7.33%.

ESSA Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Monday, December 16th. ESSA Bancorp’s dividend payout ratio (DPR) is currently 34.48%.

Institutional Investors Weigh In On ESSA Bancorp

Institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in ESSA Bancorp by 184.2% in the third quarter. Barclays PLC now owns 13,723 shares of the financial services provider’s stock valued at $264,000 after buying an additional 8,895 shares during the period. JPMorgan Chase & Co. raised its position in shares of ESSA Bancorp by 126.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,567 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 8,136 shares during the period. Northeast Financial Group Inc. boosted its stake in ESSA Bancorp by 4.5% during the 3rd quarter. Northeast Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in ESSA Bancorp by 51.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,539 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 7,696 shares during the period. Finally, Empowered Funds LLC increased its stake in ESSA Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 47,608 shares of the financial services provider’s stock valued at $915,000 after purchasing an additional 2,412 shares in the last quarter. 54.15% of the stock is owned by institutional investors and hedge funds.

About ESSA Bancorp

ESSA Bancorp, Inc operates as a bank holding company for ESSA Bank & Trust that provides a range of financial services to individuals, families, and businesses in Pennsylvania. The company accepts savings accounts, interest bearing demand accounts, checking accounts, money market accounts, club accounts, certificates of deposit and IRAs, and other qualified plan accounts, as well as commercial checking accounts.