STROUDSBURG, PA - ESSA Bancorp , Inc. (NASDAQ:ESSA), the parent company of ESSA Bank & Trust, has declared a quarterly dividend of fifteen cents ($0.15) per share. Shareholders on record by December 16, 2024, will receive the dividend on December 30, 2024.
Founded in 1916, ESSA Bank & Trust operates as a full-service financial institution with a footprint that extends through the greater Pocono, Lehigh Valley, Scranton/Wilkes-Barre, and suburban Philadelphia areas. In addition to traditional banking services, the company provides asset management and trust services, investment services through Ameriprise Financial (NYSE:AMP) Institutions Group, and insurance benefit services via ESSA Advisory Services, LLC.
With headquarters in Stroudsburg, Pennsylvania, ESSA Bancorp has established a strong regional presence, supported by two regional offices and 20 community offices. The company's reported total assets are valued at $2.2 billion. ESSA Bancorp's stock is publicly traded on the NASDAQ Global Market under the ticker symbol "ESSA."
The announcement of the dividend follows the company's operational strategy and reflects its commitment to providing value to its shareholders. Dividends are a way for companies to distribute a portion of their earnings back to shareholders, and ESSA Bancorp's consistent dividend policy may be of interest to investors seeking regular income.
In the context of forward-looking statements, ESSA Bancorp has cautioned that such statements are subject to numerous risks and uncertainties. These include changes in the economic environment, competitive products and pricing, fiscal and monetary policies, government regulations, interest rates, acquisitions, credit risk management, asset-liability management, financial and securities markets, and liquidity costs and availability. The company has advised that these factors could influence its financial performance and materially impact future results.
This dividend declaration is based on a press release statement from ESSA Bancorp, Inc. and does not constitute an endorsement of the company's future performance or an investment recommendation. Investors are encouraged to consider the company's latest financial disclosures and market position when evaluating the significance of this dividend announcement.
InvestingPro Insights
ESSA Bancorp's recent dividend declaration aligns with its strong track record of shareholder returns. According to InvestingPro data, the company boasts a dividend yield of 3.01% as of the latest available information. This yield is particularly noteworthy given that ESSA has raised its dividend for 6 consecutive years, as highlighted by an InvestingPro Tip. This consistent dividend growth underscores the company's commitment to returning value to shareholders, which may appeal to income-focused investors.
The company's financial health appears solid, with a price-to-book ratio of 0.85, suggesting that ESSA Bancorp may be undervalued relative to its book value. Additionally, the company's P/E ratio of 10.85 indicates that it's trading at a reasonable valuation compared to its earnings. These metrics, combined with the company's profitability over the last twelve months, paint a picture of a financially stable institution.
Another InvestingPro Tip reveals that ESSA has maintained dividend payments for 17 consecutive years, further emphasizing its reliability as a dividend-paying stock. This long-term consistency in dividend payments aligns well with the company's established presence in the banking sector since 1916, as mentioned in the article.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a deeper understanding of ESSA Bancorp's financial position and future prospects.
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