Short Interest in ESSA Bancorp, Inc. (NASDAQ:ESSA) Increases By 48.1%

ESSA Bancorp, Inc. (NASDAQ:ESSA) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 39,100 shares, an increase of 48.1% from the February 28th total of 26,400 shares. Based on an average daily volume of 26,200 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on ESSA Bancorp in a research report on Wednesday, March 26th. They set a “hold” rating for the company.

Institutional Investors Weigh In On ESSA Bancorp

Large investors have recently made changes to their positions in the company. State Street Corp raised its position in ESSA Bancorp by 0.5% in the 3rd quarter. State Street Corp now owns 115,996 shares of the financial services provider’s stock worth $2,229,000 after purchasing an additional 554 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ESSA Bancorp by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 186,717 shares of the financial services provider’s stock worth $3,641,000 after acquiring an additional 623 shares during the period. Empowered Funds LLC boosted its position in shares of ESSA Bancorp by 1.9% during the fourth quarter. Empowered Funds LLC now owns 48,508 shares of the financial services provider’s stock worth $946,000 after buying an additional 900 shares during the period. Wells Fargo & Company MN raised its holdings in shares of ESSA Bancorp by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 4,922 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in ESSA Bancorp by 9.6% during the fourth quarter. Nuveen Asset Management LLC now owns 12,672 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 1,107 shares during the last quarter. Institutional investors own 54.15% of the company’s stock.

ESSA Bancorp Stock Performance

Shares of NASDAQ ESSA opened at $18.85 on Tuesday. The stock’s fifty day simple moving average is $20.48 and its 200 day simple moving average is $19.84. The stock has a market capitalization of $191.42 million, a price-to-earnings ratio of 10.83 and a beta of 0.40. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. ESSA Bancorp has a 52-week low of $15.29 and a 52-week high of $22.22.

ESSA Bancorp (NASDAQ:ESSA) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.41 EPS for the quarter. ESSA Bancorp had a return on equity of 7.27% and a net margin of 14.83%.

ESSA Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, March 17th. ESSA Bancorp’s dividend payout ratio is 34.48%.

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.