Essa Banc Stock Price, News & Analysis

ESSA Bancorp, Inc. (NASDAQ:ESSA) reported a net income of $4.9 million or $0.50 per diluted share for the fiscal first quarter ending December 31, 2022, an increase from $4.6 million or $0.47 per share year-on-year. The company achieved its highest organic net loan growth in its history, with total net loans rising 12.3% year-over-year to $1.50 billion. Key metrics included a 14.4% increase in net interest income and a net interest margin of 3.50%. Credit quality remained strong, with nonperforming assets at 0.77% of total assets. Tangible book value per share rose to $19.43.

ESSA Bancorp Inc. has declared a quarterly dividend of $0.15 per share, payable to shareholders of record by December 16, 2022, and distributed on December 30, 2022. The company, headquartered in Stroudsburg, PA, operates with total assets of $1.9 billion and provides a wide array of banking services through its 21 community offices. ESSA Bancorp emphasizes its growth potential but cautions investors to consider numerous risks affecting its future performance, including economic conditions and regulatory changes.

ESSA Bancorp, Inc. reported record financial results for the fiscal year ending September 30, 2022, achieving net income of $20.1 million ($2.06 per diluted share), a 22.2% increase year-over-year. For Q4, net income rose to $5.8 million ($0.60 per diluted share), up 48.5% from the previous year. Key metrics include a 13% rise in net interest income and a 15% growth in commercial real estate loans. The return on average assets improved to 1.24%. The company also enhanced shareholder value through dividends and stock buybacks, despite challenges posed by rising interest rates.

ESSA Bancorp, Inc. announced a quarterly dividend of $0.15 per share, payable on September 30, 2022, to shareholders of record as of September 16, 2022. With total assets of $1.8 billion, ESSA Bank & Trust operates 21 community offices across the Pocono, Lehigh Valley, and suburban Philadelphia areas. The announcement emphasizes the company’s commitment to returning value to shareholders while highlighting its substantial asset base and operational footprint.

ESSA Bancorp, Inc. (NASDAQ:ESSA) reported record net income of $5.0 million, or $0.51 per diluted share, for the fiscal third quarter ended June 30, 2022, an increase from $4.0 million, or $0.41 per share, year-over-year. For the nine months, net income reached $14.2 million, up from $12.5 million. Highlights include a 9% growth in commercial real estate loans, a return on average assets of 1.08%, and no provisions for loan losses due to strong asset quality, with nonperforming assets at 0.43%. Tangible book value rose to $19.02 per share, and a 25% increase in dividends was announced.

ESSA Bancorp has approved a stock repurchase program for up to 500,000 shares of its common stock. The buyback will be executed through open market purchases and privately negotiated transactions, depending on market conditions and other factors. ESSA Bancorp currently has total assets of $1.9 billion and operates 21 community offices in Pennsylvania. The program aims to enhance shareholder value, though there are no guarantees on the number of shares repurchased. The company is subject to market conditions and various risks that could affect its performance and stock price.

ESSA Bancorp, Inc. (NASDAQ:ESSA) has declared a $0.15 per share dividend, reflecting a 25% increase from the previous quarter's dividend. This dividend, payable to shareholders of record by June 16, 2022, will be distributed on June 30, 2022. With total assets of $1.9 billion, ESSA Bancorp operates 21 community offices across several regions, offering a range of financial services. The company emphasizes its commitment to shareholder returns through this increased dividend.

ESSA Bancorp reported net income of $4.6 million or $0.47 per diluted share for Q2 2022, up from $4.3 million or $0.43 per share in Q2 2021. For H1 2022, net income reached $9.2 million, translating to $0.94 per diluted share, compared to $8.5 million or $0.84 in H1 2021. Notably, return on average assets increased to 1.00%, reflecting improved asset quality and a decline in nonperforming loans. The net interest margin rose to 3.26%, driven by effective management of interest expenses and a robust commercial loan pipeline.

ESSA Bancorp reported strong financial results for Q1 2022, with net income rising to $4.6 million, or $0.47 per share, a growth of 11.6% year-over-year. Key highlights include a net interest income of $13.6 million and a reduction in interest expense to $846,000, significantly enhancing profitability. The company's asset quality remains robust, with nonperforming assets at 1.02% of total assets. Total deposits amounted to $1.63 billion, showcasing solid core deposit growth. The Tier 1 leverage ratio exceeded regulatory requirements at 10.09%, reinforcing financial stability.