ESSA Bancorp, Inc. (NASDAQ:ESSA) Plans Quarterly Dividend of $0.12

ESSA Bancorp, Inc. (NASDAQ:ESSA) declared a quarterly dividend on Wednesday, November 24th, Wall Street Journal reports. Shareholders of record on Thursday, December 16th will be given a dividend of 0.12 per share by the financial services provider on Thursday, December 30th. This represents a $0.48 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, December 15th.

ESSA Bancorp has increased its dividend payment by 22.2% over the last three years and has increased its dividend every year for the last 1 years. ESSA Bancorp has a payout ratio of 27.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect ESSA Bancorp to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 25.5%.

ESSA Bancorp stock opened at $17.36 on Thursday. The business’s 50 day moving average price is $16.70. ESSA Bancorp has a 52 week low of $14.01 and a 52 week high of $18.23. The company has a market cap of $182.16 million, a PE ratio of 10.52 and a beta of 0.46.

ESSA Bancorp (NASDAQ:ESSA) last issued its quarterly earnings results on Tuesday, October 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. ESSA Bancorp had a net margin of 23.40% and a return on equity of 8.32%. The company had revenue of $16.35 million during the quarter, compared to analyst estimates of $15.50 million. Research analysts anticipate that ESSA Bancorp will post 1.73 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised shares of ESSA Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, November 9th.

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in ESSA Bancorp by 18.2% in the second quarter. Royal Bank of Canada now owns 9,600 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 1,479 shares during the last quarter. Morgan Stanley lifted its stake in ESSA Bancorp by 10.1% in the second quarter. Morgan Stanley now owns 24,683 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 2,266 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in ESSA Bancorp in the second quarter worth $508,000. 40.60% of the stock is owned by institutional investors and hedge funds.

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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Dividend History for ESSA Bancorp (NASDAQ:ESSA)

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