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

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

ESSA Bancorp Price Performance

Shares of NASDAQ ESSA traded down $0.07 during trading hours on Monday, reaching $18.93. 2,160 shares of the stock traded hands, compared to its average volume of 22,660. The company's 50-day simple moving average is $18.57 and its two-hundred day simple moving average is $19.65. The company has a market capitalization of $192.23 million, a P/E ratio of 10.88 and a beta of 0.47. ESSA Bancorp has a 52-week low of $15.82 and a 52-week high of $22.22. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04.

ESSA Bancorp (NASDAQ:ESSA - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $16.23 million during the quarter, compared to the consensus estimate of $17.19 million. ESSA Bancorp had a net margin of 14.83% and a return on equity of 7.27%.

ESSA Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.17%. ESSA Bancorp's dividend payout ratio is currently 38.71%.

Institutional Trading of ESSA Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESSA. Barclays PLC raised its holdings in ESSA Bancorp by 184.2% in the 3rd quarter. Barclays PLC now owns 13,723 shares of the financial services provider's stock worth $264,000 after purchasing an additional 8,895 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ESSA Bancorp by 2.4% in the third quarter. Geode Capital Management LLC now owns 186,094 shares of the financial services provider's stock worth $3,577,000 after buying an additional 4,431 shares during the period. JPMorgan Chase & Co. boosted its position 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 acquiring an additional 8,136 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of 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 acquiring an additional 900 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ESSA Bancorp by 15.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,107 shares of the financial services provider's stock worth $509,000 after acquiring an additional 3,568 shares in 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.