StockNews.com Initiates Coverage on ESSA Bancorp (NASDAQ:ESSA)

StockNews.com began coverage on shares of ESSA Bancorp (NASDAQ:ESSA - Free Report) in a report issued on Sunday morning. The firm issued a hold rating on the financial services provider's stock.

ESSA Bancorp Stock Performance

Shares of NASDAQ ESSA traded up $0.14 during trading on Friday, reaching $21.14. The stock had a trading volume of 1,912 shares, compared to its average volume of 31,545. ESSA Bancorp has a one year low of $15.29 and a one year high of $22.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $214.68 million, a PE ratio of 12.15 and a beta of 0.40. The firm's 50 day moving average price is $20.46 and its two-hundred day moving average price is $19.65.

ESSA Bancorp (NASDAQ:ESSA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.41 earnings per share for the quarter. ESSA Bancorp had a return on equity of 7.27% and a net margin of 14.83%.

ESSA Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 2.84%. ESSA Bancorp's payout ratio is currently 34.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in ESSA Bancorp by 0.5% during the 3rd quarter. State Street Corp now owns 115,996 shares of the financial services provider's stock worth $2,229,000 after buying an additional 554 shares during the last quarter. Geode Capital Management LLC grew its stake in ESSA Bancorp by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 186,717 shares of the financial services provider's stock worth $3,641,000 after buying an additional 623 shares during the last quarter. Northeast Financial Group Inc. grew 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 buying an additional 700 shares during the last quarter. Empowered Funds LLC grew its stake in ESSA Bancorp by 1.9% during the 4th quarter. Empowered Funds LLC now owns 48,508 shares of the financial services provider's stock worth $946,000 after buying an additional 900 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in ESSA Bancorp by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,922 shares of the financial services provider's stock worth $96,000 after buying an additional 1,072 shares during the last quarter. 54.15% of the stock is currently owned by institutional investors.

ESSA Bancorp Company Profile

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.