PNC Financial Services Group Inc. Sells 1,000 Shares of ESSA Bancorp, Inc. (NASDAQ:ESSA)

PNC Financial Services Group Inc. lowered its holdings in shares of ESSA Bancorp, Inc. (NASDAQ:ESSA) by 4.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,785 shares of the financial services provider’s stock after selling 1,000 shares during the period. PNC Financial Services Group Inc.’s holdings in ESSA Bancorp were worth $392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FJ Capital Management LLC grew its holdings in shares of ESSA Bancorp by 2.7% during the 4th quarter. FJ Capital Management LLC now owns 967,168 shares of the financial services provider’s stock valued at $18,860,000 after purchasing an additional 25,176 shares during the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of ESSA Bancorp during the 1st quarter valued at $3,722,000. Geode Capital Management LLC grew its holdings in shares of ESSA Bancorp by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 186,717 shares of the financial services provider’s stock valued at $3,641,000 after purchasing an additional 623 shares during the last quarter. Northern Trust Corp grew its holdings in shares of ESSA Bancorp by 3.4% during the 4th quarter. Northern Trust Corp now owns 69,810 shares of the financial services provider’s stock valued at $1,361,000 after purchasing an additional 2,289 shares during the last quarter. Finally, Tabor Asset Management LP bought a new position in shares of ESSA Bancorp during the 1st quarter valued at $735,000. Institutional investors own 54.15% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on shares of ESSA Bancorp in a report on Wednesday, May 21st. They set a “hold” rating on the stock.

ESSA Bancorp Stock Performance

ESSA stock opened at $20.61 on Friday. ESSA Bancorp, Inc. has a 52 week low of $15.82 and a 52 week high of $22.22. The firm’s fifty day moving average is $19.92 and its 200 day moving average is $19.54. The firm has a market cap of $209.29 million, a P/E ratio of 13.30 and a beta of 0.43.

ESSA Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 16th. ESSA Bancorp’s dividend payout ratio (DPR) is 38.71%.

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.