Esquire Financial (NASDAQ:ESQ) Issues Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Esquire Financial beat earnings expectations, reporting quarterly EPS of $1.60 versus the $1.56 consensus estimate, and revenue of $42.13 million, slightly ahead of forecasts.
• The stock fell after the report, dropping 5.7% to $114.15 during Thursday trading despite the earnings beat.
• The company also maintained a modest dividend, paying a quarterly $0.20 dividend that works out to a 0.7% annualized yield, with a low payout ratio of 13.45%.

Esquire Financial (NASDAQ:ESQ - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.56 by $0.04, FiscalAI reports. The business had revenue of $42.13 million for the quarter, compared to analyst estimates of $41.59 million. Esquire Financial had a net margin of 29.96% and a return on equity of 18.30%.

Esquire Financial Stock Down 5.7%

Shares of Esquire Financial stock traded down $6.86 during trading on Thursday, reaching $114.15. The company's stock had a trading volume of 101,023 shares, compared to its average volume of 106,845. Esquire Financial has a 52-week low of $90.57 and a 52-week high of $134.82. The company has a market cap of $986.29 million, a price-to-earnings ratio of 19.14 and a beta of 0.39. The firm's 50-day moving average is $114.65 and its two-hundred day moving average is $110.31.

Esquire Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.80 annualized dividend and a yield of 0.7%. Esquire Financial's dividend payout ratio is currently 13.45%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ESQ. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Esquire Financial by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,178 shares of the company's stock valued at $315,000 after acquiring an additional 156 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Esquire Financial by 64.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 690 shares of the company's stock worth $70,000 after purchasing an additional 270 shares during the period. AQR Capital Management LLC increased its stake in shares of Esquire Financial by 3.6% during the fourth quarter. AQR Capital Management LLC now owns 7,866 shares of the company's stock valued at $803,000 after purchasing an additional 271 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Esquire Financial during the fourth quarter valued at approximately $33,000. Finally, Rhumbline Advisers lifted its holdings in shares of Esquire Financial by 2.8% during the second quarter. Rhumbline Advisers now owns 11,937 shares of the company's stock valued at $1,130,000 after purchasing an additional 329 shares during the last quarter. 54.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings upgraded Esquire Financial from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, July 16th. Wall Street Zen lowered Esquire Financial from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Esquire Financial currently has a consensus rating of "Buy" and an average target price of $120.33.

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.

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