ESSA Bancorp (NASDAQ: ESSA – Get a rating) was downgraded by investment analysts to StockNews.com from a “buy” rating to a “hold” rating in a research note released Friday to investors.
Separately, Piper Sandler lowered her price target on ESSA Bancorp shares to $17.00 in a Wednesday, October 5 research report.
Performance of ESSA Bancorp shares
Shares of ESSA Bancorp shares traded at $0.21 during Friday’s trading, reaching $20.69. 18,410 shares were traded, against an average volume of 7,893. The stock’s fifty-day moving average is $21.04 and its 200-day moving average is $19.71. The stock has a market capitalization of $215.22 million, a PE ratio of 10.09 and a beta of 0.33. ESSA Bancorp has a 12-month low of $15.63 and a 12-month high of $21.80.
ESSA Bancorp (NASDAQ: ESSA – Get a rating) last announced its results on Wednesday, October 26. The financial services provider reported earnings per share (EPS) of $0.60 for the quarter, beating consensus analyst estimates of $0.53 by $0.07. The company posted revenue of $19.12 million in the quarter, compared to analyst estimates of $17.43 million. ESSA Bancorp achieved a net margin of 28.14% and a return on equity of 9.49%. Sell-side analysts expect ESSA Bancorp to post EPS of 2.19 for the current fiscal year.
Institutional investors weigh in on ESSA Bancorp
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Boothbay Fund Management LLC acquired a new stake in ESSA Bancorp in Q3, valued at approximately $664,000. Hillsdale Investment Management Inc. acquired a new stake in ESSA Bancorp in Q3 valued at approximately $95,000. Andesa Financial Management Inc. increased its stake in ESSA Bancorp to 94.1% in Q3. Andesa Financial Management Inc. now owns 60,000 shares of the financial services provider valued at $1,164,000 after acquiring 29,088 additional shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in ESSA Bancorp by 14.5% in the third quarter. The Manufacturers Life Insurance Company now owns 370,584 shares of the financial services provider valued at $7,186,000 after acquiring 46,846 additional shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in ESSA Bancorp in Q3 valued at approximately $130,000. 37.67% of the shares are held by institutional investors and hedge funds.
ESSA Bancorp Company Profile
ESSA Bancorp, Inc operates as a bank holding company. The company provides banking, trust and advisory services. It offers retail and business banking, government financial services, investment and wealth management products, retirement planning and insurance. It operates through the following segments: Home Loans, Commercial Loans, State and Political Subdivision Bonds, Home Equity Loans and Lines of Credit, Automobile Loans and Others.
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