Esquire Financial (NASDAQ:ESQ) Issues Quarterly Earnings Results

Key Points

• Esquire Financial exceeded quarterly expectations, reporting EPS of $2.12 versus the $1.89 consensus estimate and revenue of $61.39 million compared with $59.93 million expected. The company posted an 18.22% return on equity and a 29.30% net margin.
• The stock opened at $123.84, up 0.2%, with a $1.50 billion market capitalization and a price-to-earnings ratio of 20.44. Analysts maintain an overall “Buy” rating, with an average price target of $120.33.
• The company declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 0.6% yield. Separately, the CEO and a director recently sold shares, while insiders collectively own 13.9% of the company.

Esquire Financial (NASDAQ:ESQ - Get Free Report) posted its earnings results on Tuesday. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.23, FiscalAI reports. Esquire Financial had a return on equity of 18.22% and a net margin of 29.30%. The firm had revenue of $61.39 million during the quarter, compared to analysts' expectations of $59.93 million.

Esquire Financial Stock Up 0.2%

ESQ opened at $123.84 on Tuesday. The company has a 50-day simple moving average of $118.63 and a 200 day simple moving average of $113.99. Esquire Financial has a twelve month low of $92.10 and a twelve month high of $134.82. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 20.44 and a beta of 0.40.

Esquire Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.80 annualized dividend and a yield of 0.6%. Esquire Financial's dividend payout ratio is currently 13.20%.

Insider Buying and Selling at Esquire Financial

In related news, CEO Andrew C. Sagliocca sold 10,000 shares of the company's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $122.73, for a total transaction of $1,227,300.00. Following the completion of the sale, the chief executive officer directly owned 288,798 shares in the company, valued at $35,444,178.54. This represents a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Mitzman sold 3,000 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $129.60, for a total value of $388,800.00. Following the sale, the director owned 139,679 shares of the company's stock, valued at approximately $18,102,398.40. This represents a 2.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 13.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on ESQ shares. Wall Street Zen upgraded shares of Esquire Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Esquire Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $120.33.

Esquire Financial Company Profile

Esquire Financial Holdings, Inc is the bank holding company for Esquire Bank, a federally chartered community bank headquartered in Jericho, New York. Esquire Bank primarily serves law firms, attorneys, and other professional-service businesses, as well as small and middle-market companies, entrepreneurs, and individuals.

The bank provides commercial banking products and services that include business checking and savings accounts, commercial loans, lines of credit, commercial real estate financing, construction lending, and small business lending.

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