Short Interest in ESSA Bancorp, Inc. (NASDAQ:ESSA) Increases By 20.0%

ESSA Bancorp, Inc. (NASDAQ:ESSA) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 21,000 shares, an increase of 20.0% from the January 31st total of 17,500 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is presently 0.9 days.

ESSA Bancorp Stock Down 0.8 %

Shares of NASDAQ ESSA opened at $19.84 on Friday. The firm’s 50-day moving average price is $20.55 and its 200-day moving average price is $19.69. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $201.48 million, a price-to-earnings ratio of 11.40 and a beta of 0.40. ESSA Bancorp has a 12-month low of $15.29 and a 12-month 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 3.02%. ESSA Bancorp’s payout ratio is 34.48%.

Hedge Funds Weigh In On ESSA Bancorp

Several hedge funds have recently added to or reduced their stakes in ESSA. Empowered Funds LLC grew its holdings 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 valued at $915,000 after purchasing an additional 2,412 shares during the last quarter. Northeast Financial Group Inc. grew its stake in ESSA Bancorp by 4.5% in the 3rd quarter. Northeast Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 worth $433,000 after acquiring an additional 7,696 shares in the last quarter. State Street Corp grew its stake in 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 acquiring an additional 554 shares in the last quarter. Finally, Barclays PLC grew its stake in ESSA Bancorp by 184.2% in the 3rd 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 in the last quarter. 54.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of ESSA Bancorp in a research report on Sunday, March 2nd. They set a “hold” rating on the stock.

About ESSA Bancorp

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.