The Manufacturers Life Insurance Company Trims Stake in ESSA Bancorp, Inc. (NASDAQ:ESSA)

The Manufacturers Life Insurance Company lessened its position in ESSA Bancorp, Inc. (NASDAQ:ESSA) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 279,426 shares of the financial services provider’s stock after selling 6,251 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 2.76% of ESSA Bancorp worth $5,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in ESSA Bancorp by 0.5% during the first quarter. Vanguard Group Inc. now owns 441,226 shares of the financial services provider’s stock valued at $8,044,000 after buying an additional 2,056 shares during the period. Empowered Funds LLC lifted its position in ESSA Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 47,608 shares of the financial services provider’s stock valued at $915,000 after acquiring an additional 2,412 shares during the period. Bank of New York Mellon Corp boosted its stake 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 worth $530,000 after acquiring an additional 977 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in ESSA Bancorp by 4.8% in the second quarter. Panagora Asset Management Inc. now owns 29,444 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 1,343 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in 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 period. 54.15% of the stock is currently owned by institutional investors.

ESSA Bancorp Price Performance

ESSA stock 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 50 day moving average price of $19.57 and a 200-day moving average price of $18.47. ESSA Bancorp, Inc. has a 52-week low of $15.29 and a 52-week high of $21.50. The firm has a market capitalization of $208.78 million, a price-to-earnings ratio of 11.58 and a beta of 0.38.

ESSA Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Monday, December 16th. 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.