ESSA Bancorp (NASDAQ:ESSA) Rating Lowered to Sell at StockNews.com

ESSA Bancorp (NASDAQ:ESSAGet Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

ESSA Bancorp Price Performance

Shares of ESSA opened at $18.63 on Monday. ESSA Bancorp has a 12 month low of $12.79 and a 12 month high of $20.87. The company has a market cap of $188.72 million, a P/E ratio of 10.07 and a beta of 0.34. The stock has a fifty day moving average price of $19.12 and a 200 day moving average price of $17.05.

ESSA Bancorp (NASDAQ:ESSAGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). ESSA Bancorp had a return on equity of 8.24% and a net margin of 17.88%. The business had revenue of $28.05 million during the quarter, compared to the consensus estimate of $17.60 million. As a group, research analysts anticipate that ESSA Bancorp will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On ESSA Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of ESSA Bancorp by 29.8% during the 1st quarter. BlackRock Inc. now owns 50,430 shares of the financial services provider’s stock worth $905,000 after acquiring an additional 11,575 shares during the period. State Street Corp grew its position in shares of ESSA Bancorp by 6.3% during the 1st quarter. State Street Corp now owns 45,802 shares of the financial services provider’s stock worth $822,000 after buying an additional 2,714 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in ESSA Bancorp by 15.0% in the first quarter. The Manufacturers Life Insurance Company now owns 323,338 shares of the financial services provider’s stock valued at $5,804,000 after buying an additional 42,126 shares during the period. Citigroup Inc. grew its position in shares of ESSA Bancorp by 89.1% during the 4th quarter. Citigroup Inc. now owns 8,998 shares of the financial services provider’s stock worth $188,000 after buying an additional 4,240 shares during the period. Finally, Advisor Group Holdings Inc. boosted its position in shares of ESSA Bancorp by 2,577.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,079 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 2,964 shares in the last quarter. 44.24% of the stock is owned by institutional investors and hedge funds.

ESSA Bancorp Company Profile

(Get Free Report)

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.

Further Reading

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