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

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

ESSA Bancorp Stock Down 2.1 %

Shares of ESSA stock traded down $0.40 on Tuesday, reaching $18.85. 14,665 shares of the stock were exchanged, compared to its average volume of 14,761. The company has a market capitalization of $191.39 million, a price-to-earnings ratio of 10.82 and a beta of 0.40. The business's 50 day moving average price is $20.56 and its 200 day moving average price is $19.77. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. ESSA Bancorp has a twelve month low of $15.29 and a twelve month high of $22.22.

ESSA Bancorp (NASDAQ:ESSA - Get Free Report) last issued its 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%.

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ESSA Bancorp Dividend Announcement

The business also recently declared 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 is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 3.18%. ESSA Bancorp's dividend payout ratio is currently 34.48%.

Hedge Funds Weigh In On ESSA Bancorp

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC grew its stake in 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. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of 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 worth $433,000 after acquiring an additional 7,696 shares during the last quarter. State Street Corp increased its holdings in shares of ESSA Bancorp by 0.5% in the 3rd quarter. State Street Corp now owns 115,996 shares of the financial services provider's stock valued at $2,229,000 after acquiring an additional 554 shares during the period. Barclays PLC raised its position in ESSA Bancorp by 184.2% in the 3rd quarter. Barclays PLC now owns 13,723 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 8,895 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in ESSA Bancorp by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 186,094 shares of the financial services provider's stock valued at $3,577,000 after purchasing an additional 4,431 shares during the last quarter. Hedge funds and other institutional investors own 54.15% of the company's stock.

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.