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

Investment analysts at StockNews.com began coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

ESSA Bancorp Price Performance

Shares of ESSA opened at $20.89 on Friday. The firm has a market cap of $212.14 million, a PE ratio of 12.01 and a beta of 0.40. ESSA Bancorp has a 52-week low of $15.29 and a 52-week high of $22.22. The business’s 50 day moving average price is $20.46 and its two-hundred day moving average price is $19.65. 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 (NASDAQ:ESSA) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter. ESSA Bancorp had a net margin of 14.83% and a return on equity of 7.27%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings 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 valued at $264,000 after acquiring an additional 8,895 shares in the last quarter. JPMorgan Chase & Co. increased its stake in ESSA Bancorp by 126.5% during the 3rd 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 in the last quarter. State Street Corp raised its holdings in ESSA Bancorp by 0.5% during the third 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 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 valued at $3,577,000 after buying an additional 4,431 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of ESSA Bancorp by 1.9% in the fourth quarter. Empowered Funds LLC now owns 48,508 shares of the financial services provider’s stock valued at $946,000 after buying 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

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.