StockNews.com Initiates Coverage on ESSA Bancorp (NASDAQ:ESSA)

by · The Cerbat Gem

Equities research analysts at StockNews.com assumed coverage on shares of ESSA Bancorp (NASDAQ:ESSA – Get Free Report) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

ESSA Bancorp Stock Performance

Shares of ESSA stock opened at $17.22 on Thursday. The company’s fifty day simple moving average is $20.28 and its 200-day simple moving average is $19.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. ESSA Bancorp has a 52 week low of $15.29 and a 52 week high of $22.22. The company has a market cap of $174.87 million, a PE ratio of 9.90 and a beta of 0.40.

ESSA Bancorp (NASDAQ:ESSA – Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.41 EPS for the quarter. ESSA Bancorp had a return on equity of 7.27% and a net margin of 14.83%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ESSA. State Street Corp increased its stake in ESSA Bancorp by 0.5% during the 3rd quarter. State Street Corp now owns 115,996 shares of the financial services provider’s stock worth $2,229,000 after buying an additional 554 shares during the period. Barclays PLC increased its position in shares of ESSA Bancorp by 184.2% during the third quarter. Barclays PLC now owns 13,723 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 8,895 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ESSA Bancorp by 2.4% in the third quarter. Geode Capital Management LLC now owns 186,094 shares of the financial services provider’s stock worth $3,577,000 after acquiring an additional 4,431 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in ESSA Bancorp by 126.5% in 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 last quarter. Finally, Empowered Funds LLC grew its stake in ESSA Bancorp by 1.9% during the 4th quarter. Empowered Funds LLC now owns 48,508 shares of the financial services provider’s stock valued at $946,000 after purchasing an additional 900 shares in the last quarter. 54.15% of the stock is owned by institutional investors and hedge funds.

ESSA Bancorp Company Profile

(Get Free Report)

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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