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

Equities research analysts at StockNews.com began coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a research note issued on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

ESSA Bancorp Stock Performance

NASDAQ ESSA opened at $18.39 on Friday. The company has a market cap of $186.75 million, a PE ratio of 10.57 and a beta of 0.32. The stock’s 50 day simple moving average is $18.93 and its 200-day simple moving average is $19.69. ESSA Bancorp has a 1-year low of $15.82 and a 1-year high of $22.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94.

ESSA Bancorp (NASDAQ:ESSA) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). ESSA Bancorp had a net margin of 14.83% and a return on equity of 7.27%. The company had revenue of $16.23 million during the quarter, compared to analyst estimates of $17.19 million.

Hedge Funds Weigh In On ESSA Bancorp

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN grew its position 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 during the last quarter. Deutsche Bank AG acquired a new stake in shares of ESSA Bancorp in the fourth quarter valued at approximately $109,000. Bank of America Corp DE grew its position in shares of ESSA Bancorp by 44.5% in the fourth quarter. Bank of America Corp DE now owns 12,118 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 3,731 shares during the last quarter. Nuveen Asset Management LLC boosted its position in 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 acquiring an additional 1,107 shares during the last quarter. Finally, Barclays PLC boosted its position in ESSA Bancorp by 184.2% during 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 last quarter. 54.15% of the stock is currently 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.