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

Equities researchers at StockNews.com assumed coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a report released on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

ESSA Bancorp Price Performance

ESSA stock opened at $17.22 on Thursday. The firm has a 50 day moving average of $20.28 and a 200-day moving average of $19.81. The company has a market cap of $174.87 million, a price-to-earnings ratio of 9.90 and a beta of 0.40. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. ESSA Bancorp has a 12-month low of $15.29 and a 12-month high of $22.22.

ESSA Bancorp (NASDAQ:ESSA) last issued its quarterly earnings data 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%.

Hedge Funds Weigh In On ESSA Bancorp

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its position in 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 acquiring an additional 1,072 shares during the last quarter. Deutsche Bank AG purchased a new stake in ESSA Bancorp in the 4th quarter valued at about $109,000. Bank of America Corp DE increased its stake in shares of ESSA Bancorp by 44.5% during the 4th quarter. Bank of America Corp DE now owns 12,118 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 3,731 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of ESSA Bancorp by 9.6% during the 4th quarter. Nuveen Asset Management LLC now owns 12,672 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 1,107 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of ESSA Bancorp by 184.2% during 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 during the period. Hedge funds and other institutional investors own 54.15% of the company’s 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.