FJ Capital Management LLC Increases Stake in ESSA Bancorp, Inc. (NASDAQ:ESSA)

FJ Capital Management LLC lifted its position in ESSA Bancorp, Inc. (NASDAQ:ESSA - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 967,168 shares of the financial services provider's stock after buying an additional 25,176 shares during the period. ESSA Bancorp comprises 2.2% of FJ Capital Management LLC's portfolio, making the stock its 18th largest holding. FJ Capital Management LLC owned about 9.52% of ESSA Bancorp worth $18,860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN lifted 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 purchasing an additional 1,072 shares during the period. Deutsche Bank AG bought a new position in ESSA Bancorp during the fourth quarter valued at approximately $109,000. Bank of America Corp DE lifted its position in ESSA Bancorp by 44.5% during the fourth 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 during the period. Barclays PLC lifted its position in ESSA Bancorp by 184.2% during the third 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 period. Finally, JPMorgan Chase & Co. lifted its position in ESSA Bancorp by 126.5% during 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. Institutional investors own 54.15% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of ESSA Bancorp in a research report on Monday, May 5th. They set a "hold" rating on the stock.

ESSA Bancorp Stock Performance

ESSA Bancorp stock traded down $0.02 during midday trading on Friday, reaching $18.98. 6,505 shares of the company traded hands, compared to its average volume of 15,745. The firm has a market capitalization of $192.74 million, a price-to-earnings ratio of 10.91 and a beta of 0.47. The business has a 50 day moving average of $18.54 and a two-hundred day moving average of $19.64. ESSA Bancorp, Inc. has a 12 month low of $15.82 and a 12 month high of $22.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94.

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

ESSA Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. ESSA Bancorp's dividend payout ratio is currently 38.71%.

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.