Local and regional bank ESSA Bank & Trust climbs up the S&P ladder. The time to buy stock in ESSA Bank & Trust, which services the Poconos and surrounding area, is now.
According to Zacks Investment Research, shares of ESSA Bancorp are moving from a hold rating to a buy rating in a research published on 5/31/22. Their firm to date has an $18.00 price objective on the financial services provider’s stock. The stock is climbing, and ESSA’s future seems brighter as investors purchase their stock.
According to Zacks, “ESSA Bancorp, Inc. operates as the holding company for ESSA Bank & Trust and is the leading service-oriented financial institution that provides services to individuals, families, and businesses in the greater Pocono, Pennsylvania region. The Bank maintains its corporate headquarters in downtown Stroudsburg, Pennsylvania, and has community offices throughout the Pocono area. In addition to being one of the region’s largest mortgage lenders, ESSA Bank & Trust offers a full range of retail and commercial financial services. ESSA Bank & Trust’s business consists primarily of accepting deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in residential first mortgage loans, including construction mortgage loans, commercial real estate, home equity loans, and lines of credit, commercial and consumer loans. “
According to a StockNews.com report, a site dedicated to bringing stock-related news to the public, ESSA Stock opened at $16.00 a share on Monday. ESSA Bancorp has a one-year low of $14.79 per share and a one-year high of $18.76. The 50-day simple moving average (SMA), an arithmetic moving average calculated by adding recent prices and dividing that figure by the number of time periods in the calculation average, is evaluated at $17.00. With the two hundred day SMA at $17.37. Currently, the company has a market cap of $167.82 million, the market cap measures what a company is worth on the open market with future projections added to it. ESSA Bancorp has a project earnings (PE) ratio of 9.14 and beta, which measures what a company is worth on the open market, of 0.40.
According to quarterly earnings data issued by ESSA Bancorp on Wednesday, April 27th, the financial services provider reported $0.47 earnings per share (EPS) for the quarter, overachieving the analysts’ consensus estimates of $0.44 by $0.03. ESSA Bancorp had a return on equity (ROE) of 8.35% and a net margin of 25.39%. The business had quarterly revenue of $16.17 million, compared to the estimate of $15.94 million.
According to Equities Research Analysts, ESSA Bancorp will post 1.81 earnings per share (EPS) for the fiscal year. Numerous institutional investors and hedge funds have modified their company holdings of ESSA Bancorp. These investors include:
The Manufacturers Life Insurance Company increased its holdings in shares of ESSA Bancorp by 15.0% in the first quarter. Manufacturers Life Insurance owns an accumulated 323,338 shares worth $5,804,000. Occurred after buying an additional 42,126 shares during that time.
State Street Corp grew its stake in ESSA Bancorp by 6.3% in the first quarter. State Street Corp now owns 45,802 shares of the financial services provider’s stock worth $822,000 after purchasing an additional 2,714 shares in the last quarter.
BlackRock Inc. grew its stake in ESSA Bancorp by 29.8% in the first 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 in the last quarter.
BHZ Capital Management LP grew its stake in ESSA Bancorp by 35.3% in the first quarter. BHZ Capital Management LP now owns 18,386 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 4,798 shares in the last quarter.
IAM Advisory LLC bought a new position in ESSA Bancorp. In the first quarter, this was worth approximately $236,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.
With ESSA Bancorp stock going up in price on the NASDAQ and many big named investors purchasing stock, ESSA Bancorp is on an upward trajectory for security and success for both the consumer and investor.
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