ESSA Bancorp, Inc. (NASDAQ:ESSA – Get Rating) declared a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Friday, June 16th will be given a dividend of 0.15 per share by the financial services provider on Friday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Thursday, June 15th.
ESSA Bancorp has increased its dividend payment by an average of 11.6% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. ESSA Bancorp has a dividend payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect ESSA Bancorp to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 32.1%.
ESSA Bancorp Stock Down 1.1 %
NASDAQ:ESSA opened at $13.95 on Friday. ESSA Bancorp has a 12 month low of $12.79 and a 12 month high of $21.80. The firm has a market cap of $145.08 million, a price-to-earnings ratio of 6.67 and a beta of 0.27. The company’s 50 day moving average is $15.03 and its 200-day moving average is $18.59.
Analyst Upgrades and Downgrades
Institutional Investors Weigh In On ESSA Bancorp
Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of 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 last quarter. Susquehanna International Group LLP raised its holdings in ESSA Bancorp by 218.6% during the 1st quarter. Susquehanna International Group LLP now owns 72,715 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 49,891 shares during the last quarter. Geode Capital Management LLC raised its holdings in ESSA Bancorp by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 72,241 shares of the financial services provider’s stock worth $1,507,000 after purchasing an additional 1,657 shares during the last quarter. State Street Corp raised its holdings in ESSA Bancorp by 3.3% during the 1st quarter. State Street Corp now owns 57,803 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 1,821 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in 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 purchasing an additional 11,575 shares during the last quarter. Institutional investors and hedge funds own 37.67% of the company’s stock.
ESSA Bancorp Company Profile
ESSA Bancorp, Inc operates as a bank holding company. The firm engages in the provision of banking, trust and advisory services. It offers personal and business banking, government financial services, investment and wealth management, retirement planning and insurance products. It operates through the following segments: Real Estate Loans, Commercial, Obligations of states and political subdivisions, Home equity loans and lines of credit, Auto loans and Other.
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