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

Analysts at StockNews.com initiated coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a report issued on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

ESSA Bancorp Stock Down 0.5 %

Shares of NASDAQ ESSA opened at $20.49 on Tuesday. The business’s fifty day moving average price is $19.84 and its 200-day moving average price is $19.09. ESSA Bancorp has a one year low of $15.29 and a one year high of $21.50. The stock has a market capitalization of $207.97 million, a PE ratio of 11.51 and a beta of 0.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94.

Hedge Funds Weigh In On ESSA Bancorp

A number of large investors have recently made changes to their positions in ESSA. Barclays PLC boosted its stake in ESSA Bancorp by 184.2% in the 3rd quarter. Barclays PLC now owns 13,723 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 8,895 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ESSA Bancorp by 126.5% in the third quarter. JPMorgan Chase & Co. now owns 14,567 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 8,136 shares during the period. Northeast Financial Group Inc. increased its holdings in ESSA Bancorp by 4.5% during the 3rd quarter. Northeast Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 700 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in ESSA Bancorp by 51.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,539 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 7,696 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of ESSA Bancorp by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,115 shares of the financial services provider’s stock valued at $530,000 after purchasing an additional 977 shares in the last quarter. 54.15% of the stock is owned by 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.