ESSA Bancorp (NASDAQ:ESSA) Shares Pass Above 200-Day Moving Average - Here's Why

ESSA Bancorp, Inc. (NASDAQ:ESSA - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.19 and traded as high as $21.20. ESSA Bancorp shares last traded at $21.06, with a volume of 32,964 shares traded.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on ESSA Bancorp in a report on Wednesday. They issued a "hold" rating for the company.

ESSA Bancorp Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. The firm's fifty day moving average price is $19.97 and its two-hundred day moving average price is $19.23. The stock has a market capitalization of $212.24 million, a PE ratio of 12.02 and a beta of 0.40.

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

ESSA Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a dividend of $0.15 per share. The ex-dividend date was Monday, December 16th. This represents a $0.60 dividend on an annualized basis and a yield of 2.87%. ESSA Bancorp's dividend payout ratio is currently 34.48%.

Institutional Trading of ESSA Bancorp

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