Tabor Asset Management LP Purchases Shares of 39,006 ESSA Bancorp, Inc. (NASDAQ:ESSA)
Tabor Asset Management LP acquired 39,006 shares of ESSA Bancorp, Inc. (NASDAQ:ESSA) in Q1, valued at approximately $735,000, according to a recent SEC filing. This purchase represents 0.38% ownership of the company. Other institutional investors, including Alliancebernstein and Nuveen Asset Management, also increased their stakes in ESSA Bancorp. The stock traded at $20.28, with a market cap of $205.84 million and a P/E ratio of 13.08. ESSA Bancorp recently announced a quarterly dividend of $0.15, yielding 2.96%.
Tabor Asset Management LP purchased a new stake in ESSA Bancorp, Inc. (NASDAQ:ESSA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,006 shares of the financial services provider's stock, valued at approximately $735,000. Tabor Asset Management LP owned 0.38% of ESSA Bancorp as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of ESSA Bancorp by 123.3% in the fourth quarter. Alliancebernstein L.P. now owns 37,898 shares of the financial services provider's stock worth $739,000 after purchasing an additional 20,930 shares in the last quarter. Nuveen Asset Management LLC grew its position in ESSA Bancorp by 9.6% during the 4th 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. Deutsche Bank AG bought a new stake in ESSA Bancorp during the 4th quarter worth approximately $109,000. Bank of America Corp DE grew its holdings in shares of ESSA Bancorp by 44.5% in the fourth quarter. Bank of America Corp DE now owns 12,118 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 3,731 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of ESSA Bancorp by 15.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,107 shares of the financial services provider's stock worth $509,000 after purchasing an additional 3,568 shares during the last quarter. 54.15% of the stock is currently owned by institutional investors and hedge funds.
ESSA Bancorp Stock Performance
Shares of NASDAQ:ESSA traded up $0.15 during trading on Monday, reaching $20.28. 1,918 shares of the stock were exchanged, compared to its average volume of 30,994. The firm's 50-day moving average price is $19.21 and its 200 day moving average price is $19.43. ESSA Bancorp, Inc. has a 12-month low of $15.82 and a 12-month high of $22.22. The firm has a market cap of $205.84 million, a price-to-earnings ratio of 13.08 and a beta of 0.43.
ESSA Bancorp (NASDAQ:ESSA - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). ESSA Bancorp had a return on equity of 6.84% and a net margin of 13.20%. The firm had revenue of $16.23 million for the quarter, compared to analyst estimates of $17.19 million.
ESSA Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Monday, June 16th. ESSA Bancorp's dividend payout ratio is currently 38.71%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen began coverage on ESSA Bancorp in a research report on Wednesday, May 21st. They issued a "hold" rating on the stock.
Read Our Latest Stock Report on ESSA
ESSA Bancorp Company Profile
(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.
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