Esquire Financial Holdings, Inc. Declares Quarterly Dividend of $0.20 (NASDAQ:ESQ)

Key Points

• Esquire Financial declared a quarterly dividend of $0.20 per share payable June 1 to holders of record on May 15, implying an $0.80 annualized dividend (~0.8% yield) and a low payout ratio (~13.2%) that analysts expect will be comfortably covered by future earnings.
• In the most recent quarter the company reported $1.58 EPS (beating the $1.52 consensus) with strong profitability (ROE ~18.7%, net margin ~29.96%); the stock trades at a P/E of 17.85 and a market cap of about $918 million.
• Insiders sold 32,308 shares worth roughly $3.43 million over the last quarter, including director sales, although insiders still own 18% of the company and institutional investors hold 54.66% of shares.

Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report) declared a quarterly dividend on Thursday, April 30th. Investors of record on Friday, May 15th will be paid a dividend of 0.20 per share on Monday, June 1st. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, May 15th.

Esquire Financial has a payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Esquire Financial to earn $6.95 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 11.5%.

Esquire Financial Stock Up 1.1%

NASDAQ ESQ opened at $106.22 on Friday. The stock's 50-day simple moving average is $107.53 and its two-hundred day simple moving average is $105.32. Esquire Financial has a twelve month low of $80.19 and a twelve month high of $134.82. The company has a market capitalization of $917.78 million, a price-to-earnings ratio of 17.85 and a beta of 0.45.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.06. The business had revenue of $40.46 million during the quarter, compared to analyst estimates of $40.76 million. Esquire Financial had a return on equity of 18.69% and a net margin of 29.96%. On average, equities analysts expect that Esquire Financial will post 6.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Esquire Financial

In related news, Director Richard T. Powers sold 2,308 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $104.83, for a total transaction of $241,947.64. Following the transaction, the director directly owned 58,233 shares in the company, valued at approximately $6,104,565.39. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Selig Zises sold 5,000 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $105.10, for a total value of $525,500.00. Following the transaction, the director owned 6,501 shares of the company's stock, valued at approximately $683,255.10. The trade was a 43.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 32,308 shares of company stock worth $3,430,948. Company insiders own 18.00% of the company's stock.

Institutional Trading of Esquire Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC bought a new position in shares of Esquire Financial in the 1st quarter worth $693,000. Granite Investment Partners LLC purchased a new position in Esquire Financial in the 1st quarter worth $6,593,000. Personal CFO Solutions LLC purchased a new stake in Esquire Financial in the first quarter valued at approximately $229,000. Ampfield Management L.P. raised its holdings in shares of Esquire Financial by 23.0% during the first quarter. Ampfield Management L.P. now owns 233,216 shares of the company's stock worth $25,071,000 after purchasing an additional 43,633 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in shares of Esquire Financial by 11.7% in the first quarter. Diversified Trust Co now owns 2,412 shares of the company's stock worth $259,000 after buying an additional 252 shares during the last quarter. 54.66% of the stock is currently owned by institutional investors.

About Esquire Financial

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.

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