Tabor Asset Management LP Takes Position in ESSA Bancorp, Inc. (NASDAQ:ESSA)

Tabor Asset Management LP purchased a new stake in shares of ESSA Bancorp, Inc. (NASDAQ:ESSA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,006 shares of the financial services provider's stock, valued at approximately $735,000. Tabor Asset Management LP owned 0.38% of ESSA Bancorp at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Wells Fargo & Company MN raised its position in ESSA Bancorp by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 4,922 shares of the financial services provider's stock valued at $96,000 after acquiring an additional 1,072 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of ESSA Bancorp in the 4th quarter valued at $109,000. Bank of America Corp DE boosted its stake in shares of ESSA Bancorp by 44.5% in the 4th quarter. Bank of America Corp DE now owns 12,118 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 3,731 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of ESSA Bancorp by 9.6% in the fourth quarter. Nuveen Asset Management LLC now owns 12,672 shares of the financial services provider's stock valued at $247,000 after buying an additional 1,107 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of ESSA Bancorp by 13.5% in the fourth quarter. Barclays PLC now owns 15,581 shares of the financial services provider's stock valued at $304,000 after buying an additional 1,858 shares during the last quarter. 54.15% of the stock is currently owned by institutional investors and hedge funds.

ESSA Bancorp Price Performance

NASDAQ:ESSA traded down $0.05 during trading hours on Friday, reaching $20.48. 3,507 shares of the stock were exchanged, compared to its average volume of 22,052. ESSA Bancorp, Inc. has a twelve month low of $15.82 and a twelve month high of $22.22. The firm has a 50 day moving average of $19.19 and a 200 day moving average of $19.42. The stock has a market cap of $207.87 million, a PE ratio of 13.26 and a beta of 0.43.

ESSA Bancorp (NASDAQ:ESSA - Get Free Report) last released its quarterly 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). ESSA Bancorp had a return on equity of 6.84% and a net margin of 13.20%. The firm had revenue of $16.23 million for the quarter, compared to analyst estimates of $17.19 million.

ESSA Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Monday, June 16th. ESSA Bancorp's dividend payout ratio (DPR) is currently 38.71%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on ESSA Bancorp in a report on Wednesday, May 21st. They set a "hold" rating for the company.

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.

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