The Manufacturers Life Insurance Company Sells 6,251 Shares of ESSA Bancorp, Inc. (NASDAQ:ESSA)

The Manufacturers Life Insurance Company lessened its position in ESSA Bancorp, Inc. (NASDAQ:ESSA) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,426 shares of the financial services provider’s stock after selling 6,251 shares during the period. The Manufacturers Life Insurance Company’s holdings in ESSA Bancorp were worth $5,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ESSA. Northeast Financial Group Inc. raised its holdings in ESSA Bancorp by 4.5% in 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 last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of ESSA Bancorp in the 2nd quarter worth $300,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of ESSA Bancorp by 51.8% in the third 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 during the last quarter. Panagora Asset Management Inc. boosted its position in shares of ESSA Bancorp by 4.8% during the second quarter. Panagora Asset Management Inc. now owns 29,444 shares of the financial services provider’s stock valued at $518,000 after buying an additional 1,343 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position 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 valued at $530,000 after buying an additional 977 shares during the last quarter. Institutional investors own 54.15% of the company’s stock.

ESSA Bancorp Price Performance

Shares of NASDAQ:ESSA opened at $20.61 on Friday. 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 $208.78 million, a price-to-earnings ratio of 11.58 and a beta of 0.38. The business has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $18.47. ESSA Bancorp, Inc. has a fifty-two week low of $15.29 and a fifty-two week high of $21.50.

ESSA Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.60 annualized dividend and a dividend yield of 2.91%. ESSA Bancorp’s payout ratio is 33.71%.

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.