Envestnet Asset Management Inc. Sells 5,000 Shares of ESSA Bancorp, Inc. (NASDAQ:ESSA)

Envestnet Asset Management Inc. lessened its holdings in ESSA Bancorp, Inc. (NASDAQ:ESSA) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of ESSA Bancorp worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ESSA. Geode Capital Management LLC increased its stake in ESSA Bancorp by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 186,717 shares of the financial services provider’s stock worth $3,641,000 after purchasing an additional 623 shares during the period. Empowered Funds LLC grew its holdings in shares of ESSA Bancorp by 1.9% in the fourth quarter. Empowered Funds LLC now owns 48,508 shares of the financial services provider’s stock worth $946,000 after purchasing an additional 900 shares during the last quarter. Wells Fargo & Company MN raised its holdings in ESSA Bancorp by 27.8% during 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. Connor Clark & Lunn Investment Management Ltd. raised its holdings in ESSA Bancorp by 15.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,107 shares of the financial services provider’s stock valued at $509,000 after buying an additional 3,568 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 8,136 shares during the last quarter. 54.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of ESSA Bancorp in a report on Monday. They set a “hold” rating for the company.

ESSA Bancorp Price Performance

Shares of ESSA stock opened at $18.95 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $192.44 million, a P/E ratio of 10.89 and a beta of 0.47. The business’s 50 day moving average price is $18.70 and its 200-day moving average price is $19.66. ESSA Bancorp, Inc. has a fifty-two week low of $15.82 and a fifty-two week high of $22.22.

ESSA Bancorp (NASDAQ:ESSA) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $16.23 million for the quarter, compared to analysts’ expectations of $17.19 million. 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Monday, March 17th. ESSA Bancorp’s dividend payout ratio is currently 38.71%.

ESSA Bancorp 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.