Esquire Financial (NASDAQ:ESQ) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Esquire Financial shares were active but slightly lower on Wednesday, with trading volume reaching 77,103 shares and the stock last trading at $120.915, down from the prior close of $122.83.
• Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating and an average price target of $120.33, despite one recent downgrade by Wall Street Zen.
• The company reported solid fundamentals, including quarterly EPS of $1.58, which beat estimates, plus a quarterly dividend of $0.20 per share, equal to a 0.7% annualized yield.

Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report) saw unusually-high trading volume on Wednesday . 77,103 shares traded hands during mid-day trading, a decline of 27% from the previous session's volume of 105,863 shares.The stock last traded at $120.9150 and had previously closed at $122.83.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ESQ shares. 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 research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $120.33.

Esquire Financial Trading Down 1.6%

The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 20.19 and a beta of 0.39. The stock's fifty day simple moving average is $114.32 and its 200-day simple moving average is $110.18.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.06. The business had revenue of $40.46 million for the quarter, compared to analyst estimates of $40.76 million. Esquire Financial had a return on equity of 18.30% and a net margin of 29.96%. On average, analysts anticipate that Esquire Financial Holdings, Inc. will post 6.7 EPS for the current fiscal year.

Esquire Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, May 15th. Esquire Financial's dividend payout ratio (DPR) is presently 13.45%.

Institutional Investors Weigh In On Esquire Financial

A number of hedge funds and other institutional investors have recently modified their holdings of ESQ. Vanguard Group Inc. boosted its position in shares of Esquire Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 450,577 shares of the company's stock worth $45,990,000 after acquiring an additional 11,699 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Esquire Financial by 11.6% during the fourth quarter. Copeland Capital Management LLC now owns 265,550 shares of the company's stock worth $27,105,000 after purchasing an additional 27,528 shares during the last quarter. Langdon Equity Partners purchased a new stake in Esquire Financial during the fourth quarter worth approximately $14,609,000. GW&K Investment Management LLC increased its stake in Esquire Financial by 6.5% in the fourth quarter. GW&K Investment Management LLC now owns 199,909 shares of the company's stock valued at $20,405,000 after purchasing an additional 12,242 shares during the last quarter. Finally, Mawer Investment Management Ltd. raised its holdings in Esquire Financial by 3.1% during the fourth quarter. Mawer Investment Management Ltd. now owns 800,465 shares of the company's stock worth $81,703,000 after purchasing an additional 23,692 shares in the last quarter. 54.66% of the stock is currently owned by institutional investors and hedge funds.

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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