BlackRock Inc. Raises Position in ESSA Bancorp, Inc. (ESSA)

BlackRock Inc. increased its position in shares of ESSA Bancorp, Inc. (NASDAQ:ESSA) by 14.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 480,524 shares of the financial services provider’s stock after purchasing an additional 61,120 shares during the period. BlackRock Inc.’s holdings in ESSA Bancorp were worth $7,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its holdings in ESSA Bancorp by 48.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 18,600 shares of the financial services provider’s stock valued at $295,000 after buying an additional 6,100 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its holdings in ESSA Bancorp by 39.0% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 21,397 shares of the financial services provider’s stock valued at $339,000 after buying an additional 6,000 shares in the last quarter. Sei Investments Co. grew its holdings in ESSA Bancorp by 17.7% in the 2nd quarter. Sei Investments Co. now owns 23,043 shares of the financial services provider’s stock valued at $365,000 after buying an additional 3,468 shares in the last quarter. PL Capital Advisors LLC purchased a new stake in ESSA Bancorp in the 2nd quarter valued at $1,352,000. Finally, Maltese Capital Management LLC grew its holdings in ESSA Bancorp by 8.6% in the 2nd quarter. Maltese Capital Management LLC now owns 655,200 shares of the financial services provider’s stock valued at $10,372,000 after buying an additional 52,110 shares in the last quarter. Hedge funds and other institutional investors own 45.24% of the company’s stock.

In other ESSA Bancorp news, CEO Gary S. Olson sold 10,600 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $16.00, for a total value of $169,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary S. Olson sold 1,719 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $16.20, for a total value of $27,847.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,164 shares of company stock valued at $502,877. 8.83% of the stock is owned by company insiders.

Shares of NASDAQ:ESSA opened at $16.10 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $190.42 million, a price-to-earnings ratio of 26.92 and a beta of 0.29. ESSA Bancorp, Inc. has a 52-week low of $14.16 and a 52-week high of $16.80.

ESSA Bancorp (NASDAQ:ESSA) last issued its earnings results on Thursday, August 9th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter. The company had revenue of $14.46 million during the quarter. ESSA Bancorp had a return on equity of 3.64% and a net margin of 9.03%.

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ESSA Bancorp Profile

ESSA Bancorp, Inc operates as the holding company for ESSA Bank & Trust that provides a range of financial services to individuals, families, and businesses in Pennsylvania. Its deposit products include 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 for businesses.

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Institutional Ownership by Quarter for ESSA Bancorp (NASDAQ:ESSA)

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