Short Interest in ESSA Bancorp, Inc. (NASDAQ:ESSA) Increases By 23.4%

ESSA Bancorp, Inc. (NASDAQ:ESSA - Get Free Report) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 34,300 shares, an increase of 23.4% from the May 15th total of 27,800 shares. Based on an average trading volume of 19,500 shares, the short-interest ratio is currently 1.8 days. Approximately 0.4% of the company's shares are short sold.

Institutional Trading of ESSA Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in shares of 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 buying an additional 1,072 shares during the last quarter. Deutsche Bank AG bought a new position in ESSA Bancorp in the 4th quarter valued at $109,000. Jane Street Group LLC purchased a new stake in ESSA Bancorp in the first quarter worth $196,000. Chancellor Financial Group WB LP bought a new stake in shares of ESSA Bancorp during the first quarter worth $214,000. Finally, Strs Ohio bought a new stake in shares of ESSA Bancorp during the first quarter worth $219,000. Institutional investors own 54.15% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated coverage on ESSA Bancorp in a research report on Wednesday, May 21st. They set a "hold" rating on the stock.

ESSA Bancorp Trading Up 1.4%

Shares of NASDAQ ESSA traded up $0.26 during trading hours on Wednesday, hitting $18.38. 23,591 shares of the company traded hands, compared to its average volume of 17,732. The company's 50 day moving average price is $18.47 and its 200 day moving average price is $19.42. ESSA Bancorp has a 12 month low of $15.82 and a 12 month high of $22.22. The stock has a market capitalization of $186.56 million, a price-to-earnings ratio of 11.86 and a beta of 0.41.

ESSA Bancorp (NASDAQ:ESSA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $16.23 million for the quarter, compared to analysts' expectations of $17.19 million. ESSA Bancorp had a return on equity of 6.84% and a net margin of 13.20%.

ESSA Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Monday, June 16th. ESSA Bancorp's dividend payout ratio (DPR) 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.

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