Esquire Financial (NASDAQ:ESQ) Sets New 12-Month High – Here’s Why

Esquire Financial Holdings, Inc. (NASDAQ:ESQ)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $134.82 and last traded at $104.50, with a volume of 52483 shares changing hands. The stock had previously closed at $105.28.

Analyst Ratings Changes

ESQ has been the subject of several analyst reports. Piper Sandler boosted their target price on Esquire Financial from $113.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Wall Street Zen lowered shares of Esquire Financial from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Esquire Financial in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.00.

Esquire Financial Stock Performance

The firm’s 50-day moving average price is $103.30 and its two-hundred day moving average price is $100.45. The firm has a market cap of $924.27 million, a PE ratio of 18.92 and a beta of 0.43.

Esquire Financial (NASDAQ:ESQ) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.01. Esquire Financial had a net margin of 31.26% and a return on equity of 18.55%. The firm had revenue of $37.57 million during the quarter, compared to analysts’ expectations of $30.21 million. As a group, sell-side analysts predict that Esquire Financial Holdings, Inc. will post 5.52 earnings per share for the current fiscal year.

Esquire Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.6%. Esquire Financial’s dividend payout ratio is 12.28%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in shares of Esquire Financial during the third quarter worth approximately $34,000. Tower Research Capital LLC TRC grew its position in Esquire Financial by 352.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 810 shares of the company’s stock worth $77,000 after purchasing an additional 631 shares during the last quarter. Advisory Services Network LLC acquired a new position in Esquire Financial in the third quarter valued at $93,000. USA Financial Formulas raised its holdings in shares of Esquire Financial by 99.7% in the second quarter. USA Financial Formulas now owns 1,338 shares of the company’s stock valued at $127,000 after buying an additional 668 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of Esquire Financial by 50.2% in the third quarter. Comerica Bank now owns 1,289 shares of the company’s stock valued at $132,000 after buying an additional 431 shares during the last quarter. Institutional investors and hedge funds own 54.66% of the company’s stock.

Esquire Financial Company Profile

Esquire Financial Holdings, Inc is a bank holding company whose principal subsidiary, Esquire Bank, specializes in residential mortgage lending and community banking services. Headquartered in Kansas City, Missouri, the company operates through multiple distribution channels, including retail branches, wholesale and correspondent lending divisions. Esquire Financial focuses on tailored home financing solutions while maintaining a community-oriented approach to banking.

In its mortgage lending business, Esquire Bank originates and services a range of home loan products, including government-insured mortgages (FHA, VA and USDA) as well as conventional conforming and jumbo loans.