Esquire Financial (NASDAQ:ESQ) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Esquire Financial shares saw unusual trading activity with 72,485 shares changing hands, though that was down 25% from the prior session. The stock last traded at $111.21, slightly below its previous close of $112.76.
• Analysts remain mostly positive despite mixed rating changes, with the consensus view still at “Buy” and an average price target of $120.33. Recent calls included upgrades from Raymond James and a price-target increase from Keefe, Bruyette & Woods.
• The company reported solid quarterly results and a small dividend, posting EPS of $1.58, which beat estimates, and declaring a quarterly dividend of $0.20 per share. The dividend implies a 0.7% yield and a low payout ratio of 13.45%.

Shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report) saw strong trading volume on Thursday . 72,485 shares changed hands during trading, a decline of 25% from the previous session's volume of 96,514 shares.The stock last traded at $111.2130 and had previously closed at $112.76.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESQ. Wall Street Zen lowered shares of Esquire Financial from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Keefe, Bruyette & Woods upped their price target on shares of Esquire Financial from $115.00 to $120.00 and gave the stock a "market perform" rating in a research report on Friday, January 23rd. Weiss Ratings downgraded shares of Esquire Financial from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, May 15th. Finally, Raymond James Financial upgraded shares of Esquire Financial from a "market perform" rating to a "strong-buy" rating and set a $125.00 target price on the stock in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Esquire Financial presently has a consensus rating of "Buy" and an average target price of $120.33.

Esquire Financial Stock Performance

The stock has a market capitalization of $954.05 million, a price-to-earnings ratio of 18.56 and a beta of 0.39. The firm's fifty day simple moving average is $108.54 and its 200 day simple moving average is $105.99.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.52 by $0.06. The firm had revenue of $40.46 million for the quarter, compared to the consensus estimate of $40.76 million. Esquire Financial had a net margin of 29.96% and a return on equity of 18.30%. Analysts forecast that Esquire Financial Holdings, Inc. will post 6.35 earnings per share for the current year.

Esquire Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, May 15th. Esquire Financial's dividend payout ratio (DPR) is currently 13.45%.

Insider Activity at Esquire Financial

In other news, Director Selig Zises sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $106.54, for a total transaction of $2,663,500.00. Following the completion of the transaction, the director directly owned 8,501 shares of the company's stock, valued at $905,696.54. This trade represents a 74.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Powers sold 2,308 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The stock was 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 of the company's stock, valued at $6,104,565.39. This represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,308 shares of company stock valued at $3,430,948 over the last ninety days. Company insiders own 18.00% of the company's stock.

Hedge Funds Weigh In On Esquire Financial

Several hedge funds have recently made changes to their positions in the business. Mawer Investment Management Ltd. grew its stake in shares of Esquire Financial by 3.1% during the 4th quarter. Mawer Investment Management Ltd. now owns 800,465 shares of the company's stock worth $81,703,000 after acquiring an additional 23,692 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Esquire Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 450,577 shares of the company's stock valued at $45,990,000 after buying an additional 11,699 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Esquire Financial by 0.5% in the third quarter. Wasatch Advisors LP now owns 368,064 shares of the company's stock valued at $37,563,000 after buying an additional 1,878 shares in the last quarter. Copeland Capital Management LLC grew its stake in shares of Esquire Financial by 14.7% in the first quarter. Copeland Capital Management LLC now owns 304,647 shares of the company's stock valued at $32,750,000 after buying an additional 39,097 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Esquire Financial by 6.2% in the third quarter. American Century Companies Inc. now owns 238,030 shares of the company's stock valued at $24,292,000 after buying an additional 13,832 shares in the last quarter. 54.66% of the stock is owned by institutional investors.

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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