ESSA Bancorp (NASDAQ:ESSA) Share Price Crosses Above Two Hundred Day Moving Average of $19.69

ESSA Bancorp, Inc. (NASDAQ:ESSA – Get Rating) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.69 and traded as high as $20.54. ESSA Bancorp shares last traded at $20.48, with a volume of 13,826 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ESSA shares. StockNews.com lowered shares of ESSA Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, January 12th. Piper Sandler lowered their price target on shares of ESSA Bancorp to $17.00 in a report on Wednesday, October 5th.

ESSA Bancorp Stock Performance

The firm’s fifty day simple moving average is $21.05 and its 200-day simple moving average is $19.69. The stock has a market cap of $213.03 million, a P/E ratio of 9.99 and a beta of 0.33.

ESSA Bancorp (NASDAQ:ESSA – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.07. The company had revenue of $19.12 million during the quarter, compared to analyst estimates of $17.43 million. ESSA Bancorp had a net margin of 28.14% and a return on equity of 9.49%. Analysts predict that ESSA Bancorp, Inc. will post 2.19 earnings per share for the current fiscal year.

ESSA Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.93%. ESSA Bancorp’s dividend payout ratio is currently 29.27%.

Institutional Trading of ESSA Bancorp

Several hedge funds have recently modified their holdings of ESSA. Hillsdale Investment Management Inc. acquired a new stake in ESSA Bancorp in the 3rd quarter valued at $95,000. FNY Investment Advisers LLC acquired a new stake in ESSA Bancorp in the 3rd quarter valued at $130,000. Boothbay Fund Management LLC acquired a new stake in ESSA Bancorp in the 3rd quarter valued at $664,000. State Street Corp grew its position in ESSA Bancorp by 6.3% in the 1st quarter. State Street Corp now owns 45,802 shares of the financial services provider’s stock valued at $822,000 after purchasing an additional 2,714 shares during the period. Finally, BlackRock Inc. grew its position in ESSA Bancorp by 29.8% in the 1st quarter. BlackRock Inc. now owns 50,430 shares of the financial services provider’s stock valued at $905,000 after purchasing an additional 11,575 shares during the period. Institutional investors own 37.67% of the company’s stock.

ESSA Bancorp Company Profile

(Get Rating)

ESSA Bancorp, Inc operates as a bank holding company. The firm engages in the provision of banking, trust and advisory services. It offers personal and business banking, government financial services, investment and wealth management, retirement planning and insurance products. It operates through the following segments: Real Estate Loans, Commercial, Obligations of states and political subdivisions, Home equity loans and lines of credit, Auto loans and Other.