ESSA Bancorp (NASDAQ:ESSA) Shares Cross Above 200 Day Moving Average of $0.00

ESSA Bancorp, Inc. (NASDAQ:ESSA) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $17.56. ESSA Bancorp shares last traded at $17.35, with a volume of 8,823 shares trading hands.

Separately, Zacks Investment Research downgraded shares of ESSA Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 5th.

The stock’s 50-day moving average is $17.14 and its 200-day moving average is $16.73. The stock has a market cap of $181.69 million, a price-to-earnings ratio of 10.50 and a beta of 0.43.

ESSA Bancorp (NASDAQ:ESSA) last posted its earnings results on Tuesday, October 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. The firm had revenue of $16.35 million during the quarter, compared to the consensus estimate of $15.50 million. ESSA Bancorp had a net margin of 23.40% and a return on equity of 8.28%. Analysts forecast that ESSA Bancorp, Inc. will post 1.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 30th. Investors of record on Thursday, December 16th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Wednesday, December 15th. ESSA Bancorp’s dividend payout ratio (DPR) is presently 29.09%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tibra Equities Europe Ltd purchased a new position in ESSA Bancorp in the 2nd quarter worth approximately $211,000. Cedar Brook Financial Partners LLC purchased a new position in ESSA Bancorp in the 2nd quarter worth approximately $430,000. Ergoteles LLC purchased a new position in ESSA Bancorp in the 2nd quarter worth approximately $639,000. The Manufacturers Life Insurance Company purchased a new position in ESSA Bancorp in the 2nd quarter worth approximately $1,742,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in ESSA Bancorp by 26.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,083 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 2,711 shares during the period. Hedge funds and other institutional investors own 40.64% of the company’s stock.

About ESSA Bancorp (NASDAQ:ESSA)

ESSA Bancorp, Inc operates as a bank holding company. The firm engages in the provision of banking, trust and advisory services. It offers personal and business banking, government financial services, investment and wealth management, retirement planning and insurance products. It operates through the following segments: Real Estate Loans, Commercial, Obligations of states and political subdivisions, Home equity loans and lines of credit, Auto loans and Other.

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