ESSA Bancorp (NASDAQ:ESSA) Stock Price Crosses Above Two Hundred Day Moving Average of $17.60

ESSA Bancorp, Inc. (NASDAQ:ESSA)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.60 and traded as high as $19.68. ESSA Bancorp shares last traded at $19.68, with a volume of 7,921 shares changing hands.

ESSA Bancorp Stock Performance

The firm has a market capitalization of $188.56 million, a price-to-earnings ratio of 10.06 and a beta of 0.36. 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 stock’s fifty day moving average is $18.42 and its two-hundred day moving average is $17.61.

ESSA Bancorp (NASDAQ:ESSA) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). ESSA Bancorp had a net margin of 15.78% and a return on equity of 7.84%. The business had revenue of $16.28 million during the quarter, compared to analysts’ expectations of $17.29 million.

ESSA Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.15 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.60 annualized dividend and a yield of 3.22%. ESSA Bancorp’s dividend payout ratio is presently 32.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in ESSA Bancorp by 27.1% in the first quarter. BNP Paribas Financial Markets now owns 4,502 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 961 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in ESSA Bancorp during the second quarter worth $300,000. Panagora Asset Management Inc. boosted its holdings in ESSA Bancorp by 2.7% in the fourth quarter. Panagora Asset Management Inc. now owns 22,001 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 578 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of ESSA Bancorp by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 30,115 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 977 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of ESSA Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 41,956 shares of the financial services provider’s stock worth $765,000 after buying an additional 3,150 shares during the last quarter. 54.15% of the stock is owned by institutional investors and hedge funds.

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.