ESSA Bancorp (NASDAQ:ESSA) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of ESSA Bancorp, Inc. (NASDAQ:ESSA) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.82 and traded as high as $20.09. ESSA Bancorp shares last traded at $20.09, with a volume of 7,722 shares traded.

ESSA Bancorp Stock Performance

The stock’s 50 day moving average is $18.64 and its two-hundred day moving average is $17.83. The firm has a market capitalization of $188.15 million, a P/E ratio of 10.51 and a beta of 0.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94.

ESSA Bancorp (NASDAQ:ESSA) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). ESSA Bancorp had a return on equity of 7.84% and a net margin of 15.78%. The company had revenue of $16.28 million for the quarter, compared to analyst estimates of $17.29 million.

ESSA Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.15 per share. The ex-dividend date was Monday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 3.23%. ESSA Bancorp’s payout ratio is currently 32.43%.

Hedge Funds Weigh In On ESSA Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new stake in ESSA Bancorp during the 2nd quarter worth approximately $300,000. Empowered Funds LLC increased its position in shares of ESSA Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 41,956 shares of the financial services provider’s stock worth $765,000 after acquiring an additional 3,150 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ESSA Bancorp by 0.5% during the first quarter. Vanguard Group Inc. now owns 441,226 shares of the financial services provider’s stock worth $8,044,000 after acquiring an additional 2,056 shares during the period. Panagora Asset Management Inc. boosted its stake in ESSA Bancorp by 4.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 29,444 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 1,343 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of ESSA Bancorp by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,115 shares of the financial services provider’s stock valued at $530,000 after purchasing an additional 977 shares during the period. Institutional investors and hedge funds own 54.15% of the company’s stock.

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.