ESSA Bancorp (NASDAQ:ESSA) Shares Pass Above 200 Day Moving Average - Time to Sell?

ESSA Bancorp, Inc. (NASDAQ:ESSA - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.39 and traded as high as $20.46. ESSA Bancorp shares last traded at $20.18, with a volume of 22,342 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on ESSA Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating for the company.

ESSA Bancorp Stock Performance

The business's 50 day moving average price is $19.07 and its 200-day moving average price is $19.39. The company has a market cap of $204.83 million, a price-to-earnings ratio of 13.02 and a beta of 0.43.

ESSA Bancorp (NASDAQ:ESSA - Get Free Report) last posted 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 business 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 13.20% and a return on equity of 6.84%.

ESSA Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.97%. ESSA Bancorp's payout ratio is presently 38.71%.

Hedge Funds Weigh In On ESSA Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of ESSA. Connor Clark & Lunn Investment Management Ltd. raised its stake in ESSA Bancorp by 15.8% during the fourth 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. JPMorgan Chase & Co. grew its holdings in shares of ESSA Bancorp by 104.1% in the 4th quarter. JPMorgan Chase & Co. now owns 29,733 shares of the financial services provider's stock worth $580,000 after purchasing an additional 15,166 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of ESSA Bancorp by 123.3% in the 4th quarter. Alliancebernstein L.P. now owns 37,898 shares of the financial services provider's stock worth $739,000 after purchasing an additional 20,930 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 623 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings 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 valued at $96,000 after purchasing an additional 1,072 shares during the last quarter. Institutional investors own 54.15% of the company's stock.

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.

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