ESSA Bancorp (NASDAQ:ESSA) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of ESSA Bancorp (NASDAQ:ESSA) in a research report issued to clients and investors on Tuesday. The brokerage 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 company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. The firm has a market cap of $203.51 million, a P/E ratio of 11.26 and a beta of 0.40. The business has a fifty day moving average of $19.82 and a two-hundred day moving average of $19.05. ESSA Bancorp has a twelve month low of $15.29 and a twelve month high of $21.50.

Institutional Trading of ESSA Bancorp

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its holdings in shares of ESSA Bancorp by 0.5% during the 3rd quarter. State Street Corp now owns 115,996 shares of the financial services provider’s stock valued at $2,229,000 after purchasing an additional 554 shares during the last quarter. Geode Capital Management LLC raised its stake in ESSA Bancorp by 2.4% in the third quarter. Geode Capital Management LLC now owns 186,094 shares of the financial services provider’s stock valued at $3,577,000 after buying an additional 4,431 shares during the last quarter. Barclays PLC boosted its holdings in ESSA Bancorp by 184.2% in the third quarter. Barclays PLC now owns 13,723 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 8,895 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ESSA Bancorp by 51.8% during 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 acquiring an additional 7,696 shares during the last quarter. Finally, Bank of New York Mellon Corp increased 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 valued at $530,000 after acquiring an additional 977 shares in the last quarter. 54.15% of the stock is owned by hedge funds and other institutional investors.

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.