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 released on Tuesday. The firm set a “hold” rating on the financial services provider’s stock.

ESSA Bancorp Trading Up 3.1 %

NASDAQ:ESSA opened at $19.49 on Tuesday. ESSA Bancorp has a 1-year low of $15.29 and a 1-year high of $22.22. The business’s 50-day moving average price is $20.54 and its two-hundred day moving average price is $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. The firm has a market capitalization of $197.92 million, a price-to-earnings ratio of 11.20 and a beta of 0.40.

ESSA Bancorp (NASDAQ:ESSA) last announced its quarterly earnings results 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%.

Institutional Investors Weigh In On ESSA Bancorp

Several large investors have recently modified their holdings of the business. State Street Corp grew its holdings in shares of 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. Empowered Funds LLC grew its holdings 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 worth $946,000 after buying an additional 900 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of 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 in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of ESSA Bancorp by 9.6% during the fourth quarter. Nuveen Asset Management LLC now owns 12,672 shares of the financial services provider’s stock worth $247,000 after buying an additional 1,107 shares in the last quarter. 54.15% of the stock is currently owned by institutional investors.

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.