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

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

ESSA Bancorp Stock Up 1.9 %

ESSA Bancorp stock opened at $20.05 on Tuesday. The business’s 50-day simple moving average is $19.82 and its two-hundred day simple moving average is $19.05. 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 company has a market cap of $203.51 million, a PE ratio of 11.26 and a beta of 0.40. ESSA Bancorp has a fifty-two week low of $15.29 and a fifty-two week high of $21.50.

Institutional Trading of ESSA Bancorp

Several large investors have recently made changes to their positions in ESSA. Bank of New York Mellon Corp lifted its position in 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 purchasing an additional 977 shares during the period. Empowered Funds LLC lifted its holdings in shares of ESSA Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 47,608 shares of the financial services provider’s stock valued at $915,000 after buying an additional 2,412 shares during the period. Northeast Financial Group Inc. boosted its stake in shares of ESSA Bancorp by 4.5% in the third quarter. Northeast Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $314,000 after buying an additional 700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted 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 buying an additional 7,696 shares during the last quarter. Finally, State Street Corp grew its holdings in ESSA Bancorp by 0.5% during the third quarter. State Street Corp now owns 115,996 shares of the financial services provider’s stock worth $2,229,000 after acquiring an additional 554 shares during the period. 54.15% of the stock is owned by hedge funds and other 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.