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

Investment analysts at StockNews.com started coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the financial services provider’s stock.

ESSA Bancorp Stock Performance

NASDAQ:ESSA opened at $19.31 on Wednesday. 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 has a fifty-two week low of $15.29 and a fifty-two week high of $22.22. The firm has a market cap of $196.09 million, a PE ratio of 11.10 and a beta of 0.40. The business has a 50 day moving average price of $20.53 and a 200-day moving average price of $19.81.

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

Hedge Funds Weigh In On ESSA Bancorp

Several hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its stake in ESSA Bancorp by 184.2% in 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 period. JPMorgan Chase & Co. lifted its position in shares of ESSA Bancorp by 126.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,567 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 8,136 shares during the period. State Street Corp lifted its position 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 worth $2,229,000 after purchasing an additional 554 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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 valued at $3,577,000 after purchasing an additional 4,431 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of ESSA Bancorp by 1.9% during 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 during the period. 54.15% of the stock is owned by hedge funds and other institutional investors.

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.