ESSA Bancorp (ESSA) Stock Plummets as Banking Sector Faces Challenges

Author's Avatar
Nov 07, 2024
Article's Main Image

The stock of ESSA Bancorp (ESSA, Financial) experienced significant volatility, dropping by 5.06%. The price is currently $19.70 per share with a trading volume of 8,659 shares and a turnover rate of 0.09%. The stock's amplitude stands at 3.57%.

Recent financial reports for ESSA Bancorp indicate a revenue of $112 million and a net profit of $16.99 million, resulting in an earnings per share (EPS) of $1.78. The price-to-earnings (P/E) ratio is 11.10. Analysts from one rating agency suggest holding the stock, with no recommendations for buying or selling.

Within the banking sector, where ESSA Bancorp operates, there is an overall decline of 1.27%. Among related stocks, FinVolution Group, Loandepot, Inc., and QCR Holdings have shown notable gains. Meanwhile, UWM Holdings Corporation, Grupo Supervielle S.A., and Rocket Companies, Inc. are highly active, with turnover rates of 2.44%, 1.95%, and 1.50% respectively. Stocks with significant amplitude include Better Home & Finance Holding C/Wts 22/08/2028 (To Pur Com), FinVolution Group, and Ameris Bancorp, with fluctuations of 20.43%, 16.36%, and 11.99% respectively.

ESSA Bancorp, a stock holding company, engages in accepting public deposits and investing these along with operating and borrowed funds into residential first mortgages, including construction mortgages, commercial real estate loans, home equity loans, credit lines, and commercial and industrial loans. The company offers various deposit accounts such as checking, savings, and certificates of deposit. Additionally, it provides asset management, trust, and investment services. Through its wholly-owned subsidiary, ESSA Advisory Services, LLC, it also offers insurance benefit consulting services.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.