Esquire Financial (NASDAQ:ESQ) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Esquire Financial reported quarterly earnings of $1.47 per share, surpassing analyst expectations by $0.01, with a return on equity of 18.87% and a net margin of 30.96%.
• Insider selling was noted, with Director Joseph Melohn selling 11,000 shares and Director Selig Zises selling 17,000 shares at prices around $99.90, marking significant decreases in their respective positions.
• Esquire Financial's stock received a mixed response from analysts, with a "Moderate Buy" rating and a consensus target price of $100.50, amid varying ratings from different firms.

Esquire Financial (NASDAQ:ESQ - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.01, Zacks reports. Esquire Financial had a return on equity of 18.87% and a net margin of 30.96%.

Esquire Financial Trading Down 0.1%

Shares of ESQ stock traded down $0.13 during trading hours on Thursday, hitting $101.50. The company's stock had a trading volume of 2,841 shares, compared to its average volume of 85,911. The business has a fifty day moving average of $100.14 and a 200-day moving average of $93.87. The stock has a market cap of $866.81 million, a price-to-earnings ratio of 18.73 and a beta of 0.53. Esquire Financial has a twelve month low of $63.00 and a twelve month high of $107.25.

Insider Buying and Selling

In other news, Director Joseph Melohn sold 11,000 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $99.90, for a total value of $1,098,900.00. Following the transaction, the director owned 137,857 shares of the company's stock, valued at approximately $13,771,914.30. This trade represents a 7.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Selig Zises sold 17,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $99.71, for a total transaction of $1,695,070.00. Following the completion of the sale, the director directly owned 21,001 shares of the company's stock, valued at $2,094,009.71. The trade was a 44.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,326 shares of company stock worth $3,403,470. 18.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in Esquire Financial by 352.5% in the second quarter. Tower Research Capital LLC TRC now owns 810 shares of the company's stock worth $77,000 after acquiring an additional 631 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Esquire Financial during the 2nd quarter worth about $207,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Esquire Financial during the 2nd quarter worth about $252,000. Brevan Howard Capital Management LP bought a new stake in Esquire Financial during the 2nd quarter worth about $257,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $315,000 after acquiring an additional 156 shares during the last quarter. 54.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESQ has been the subject of several analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $110.00 price objective (up previously from $102.00) on shares of Esquire Financial in a report on Friday, July 25th. Weiss Ratings reissued a "buy (b)" rating on shares of Esquire Financial in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Esquire Financial from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Esquire Financial presently has an average rating of "Moderate Buy" and a consensus target price of $100.50.

About Esquire Financial

Esquire Financial Holdings, Inc operates as the bank holding company for Esquire Bank, National Association that provides commercial banking products and services to legal industry and small businesses, and commercial and retail customers in the United States. The company offers checking, savings, money market, and time deposits, as well as certificates of deposit.

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