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

ESSA Bancorp logo with Finance background

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

ESSA Bancorp Stock Down 0.0 %

NASDAQ ESSA traded down $0.01 during trading hours on Wednesday, hitting $20.91. 33,549 shares of the company traded hands, compared to its average volume of 41,039. 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 business's 50-day moving average is $19.97 and its 200-day moving average is $19.23. The stock has a market capitalization of $212.24 million, a price-to-earnings ratio of 12.02 and a beta of 0.40. ESSA Bancorp has a twelve month low of $15.29 and a twelve month high of $21.62.

ESSA Bancorp (NASDAQ:ESSA - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.41 EPS for the quarter. ESSA Bancorp had a return on equity of 7.33% and a net margin of 14.83%.

ESSA Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a $0.15 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.60 annualized dividend and a yield of 2.87%. ESSA Bancorp's dividend payout ratio (DPR) is currently 34.48%.

Hedge Funds Weigh In On ESSA Bancorp

Institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its position in shares of 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 last quarter. JPMorgan Chase & Co. lifted its holdings in ESSA Bancorp by 126.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,567 shares of the financial services provider's stock valued at $280,000 after purchasing an additional 8,136 shares during the last quarter. Northeast Financial Group Inc. boosted its position in ESSA Bancorp by 4.5% during the third quarter. Northeast Financial Group Inc. now owns 16,346 shares of the financial services provider's stock worth $314,000 after purchasing an additional 700 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ESSA Bancorp by 51.8% in 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 lifted its stake in shares of ESSA Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 47,608 shares of the financial services provider's stock worth $915,000 after buying an additional 2,412 shares during the last quarter. Institutional investors and hedge funds own 54.15% of the company's stock.

About ESSA Bancorp

(Get Free Report)

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.

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