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

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

ESSA Bancorp Stock Performance

NASDAQ:ESSA opened at $19.49 on Tuesday. The stock has a market cap of $197.92 million, a P/E ratio of 11.20 and a beta of 0.40. The stock has a 50 day simple moving average of $20.54 and a 200 day simple moving average of $19.78. 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.

ESSA Bancorp (NASDAQ:ESSA) last posted 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%.

Hedge Funds Weigh In On ESSA Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its position in ESSA Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 47,608 shares of the financial services provider’s stock worth $915,000 after acquiring an additional 2,412 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of ESSA Bancorp by 51.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,539 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 7,696 shares during the period. State Street Corp lifted its stake in shares of ESSA Bancorp by 0.5% in the 3rd quarter. State Street Corp now owns 115,996 shares of the financial services provider’s stock valued at $2,229,000 after purchasing an additional 554 shares during the period. Barclays PLC raised 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 worth $264,000 after buying an additional 8,895 shares during the period. Finally, Geode Capital Management LLC raised its stake in ESSA Bancorp by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 186,094 shares of the financial services provider’s stock worth $3,577,000 after buying an additional 4,431 shares during the period. Institutional investors own 54.15% of the company’s stock.

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.