ESSA Bancorp (NASDAQ:ESSA) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a report issued on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

ESSA Bancorp Price Performance

Shares of NASDAQ:ESSA opened at $19.04 on Monday. 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 1 year low of $15.29 and a 1 year high of $22.22. The business has a fifty day simple moving average of $20.55 and a 200 day simple moving average of $19.74. The firm has a market cap of $193.35 million, a price-to-earnings ratio of 10.94 and a beta of 0.40.

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

Hedge Funds Weigh In On ESSA Bancorp

Several hedge funds have recently bought and sold shares of the business. State Street Corp increased its position 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 increased its position in ESSA Bancorp by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 186,717 shares of the financial services provider’s stock worth $3,641,000 after buying an additional 623 shares during the last quarter. Northeast Financial Group Inc. increased its position in ESSA Bancorp by 4.5% during the third quarter. Northeast Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $314,000 after buying an additional 700 shares during the last quarter. Empowered Funds LLC increased its position in ESSA Bancorp by 1.9% during the fourth quarter. Empowered Funds LLC now owns 48,508 shares of the financial services provider’s stock worth $946,000 after buying an additional 900 shares during the last quarter. Finally, Wells Fargo & Company MN increased 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 worth $96,000 after buying an additional 1,072 shares during 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.