ESSA Bancorp, Inc. (NASDAQ:ESSA) Short Interest Up 48.1% in March

ESSA Bancorp, Inc. (NASDAQ:ESSA) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 39,100 shares, a growth of 48.1% from the February 28th total of 26,400 shares. Based on an average daily volume of 26,200 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of ESSA Bancorp in a research report on Wednesday, March 26th. They issued a “hold” rating on the stock.

ESSA Bancorp Price Performance

Shares of ESSA Bancorp stock traded down $0.10 during mid-day trading on Monday, reaching $18.84. 7,473 shares of the stock traded hands, compared to its average volume of 15,299. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $20.51 and a 200 day moving average of $19.84. The stock has a market capitalization of $191.27 million, a PE ratio of 10.82 and a beta of 0.40. ESSA Bancorp has a fifty-two week low of $15.29 and a fifty-two week high of $22.22.

ESSA Bancorp (NASDAQ:ESSA) last announced 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%.

ESSA Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.19%. ESSA Bancorp’s dividend payout ratio (DPR) is presently 34.48%.

Hedge Funds Weigh In On ESSA Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in ESSA Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,922 shares of the financial services provider’s stock valued at $96,000 after buying an additional 1,072 shares in the last quarter. Deutsche Bank AG acquired a new stake in ESSA Bancorp during the fourth quarter worth about $109,000. Bank of America Corp DE raised its stake 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 purchasing an additional 3,731 shares during the period. Nuveen Asset Management LLC boosted its holdings 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 purchasing an additional 1,107 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of ESSA Bancorp by 184.2% in the 3rd quarter. Barclays PLC now owns 13,723 shares of the financial services provider’s stock valued at $264,000 after buying an additional 8,895 shares during the period. Hedge funds and other 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.