ESSA Bancorp (NASDAQ:ESSA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a research report report published on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

ESSA Bancorp Stock Down 2.0 %

ESSA stock opened at $18.93 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94. ESSA Bancorp has a fifty-two week low of $15.29 and a fifty-two week high of $22.22. The stock’s 50 day simple moving average is $20.51 and its 200 day simple moving average is $19.82. The company has a market cap of $192.23 million, a P/E ratio of 10.88 and a beta of 0.40.

ESSA Bancorp (NASDAQ:ESSA) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.41 earnings per share for the quarter. ESSA Bancorp had a return on equity of 7.27% and a net margin of 14.83%.

ESSA Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, March 17th. ESSA Bancorp’s payout ratio is presently 34.48%.

Institutional Investors Weigh In On ESSA Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in ESSA. Wells Fargo & Company MN increased 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 worth $96,000 after purchasing an additional 1,072 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of ESSA Bancorp during the fourth quarter valued at approximately $109,000. Bank of America Corp DE grew its holdings 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 worth $236,000 after buying an additional 3,731 shares in the last quarter. Nuveen Asset Management LLC raised its position in ESSA Bancorp by 9.6% in the 4th 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 lifted its stake in ESSA Bancorp by 184.2% during the 3rd quarter. Barclays PLC now owns 13,723 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 8,895 shares in the last quarter. Institutional investors and hedge funds 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.