Esquire Financial (NASDAQ:ESQ) Stock Price Down 7.3% - Time to Sell?

Key Points

• Esquire Financial (NASDAQ:ESQ) shares fell by 7.3% during Friday's trading, closing at $97.17 after a previous close of $104.78.
• Analyst ratings for Esquire Financial have varied, with Keefe, Bruyette & Woods maintaining a "market perform" rating and raising its price target to $110, while Wall Street Zen downgraded the stock from "hold" to "sell."
• The company reported a quarterly earnings per share (EPS) of $1.38, matching analyst expectations, but revenues came in lower than anticipated at ($24.94) million.
• Esquire Financial has announced a quarterly dividend of $0.175 per share, yielding 0.72%, with a low payout ratio of 13.23%.

Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report)'s share price was down 7.3% during trading on Friday . The stock traded as low as $98.00 and last traded at $97.17. Approximately 69,799 shares changed hands during trading, a decline of 26% from the average daily volume of 93,793 shares. The stock had previously closed at $104.78.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Esquire Financial from a "sell" rating to a "hold" rating in a report on Saturday. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $110.00 price objective (up from $102.00) on shares of Esquire Financial in a report on Friday.

Esquire Financial Price Performance

The stock has a market capitalization of $818.17 million, a P/E ratio of 17.84 and a beta of 0.52. The stock's fifty day moving average is $94.28 and its 200-day moving average is $85.65.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.38 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.38. Esquire Financial had a net margin of 30.96% and a return on equity of 19.33%. The company had revenue of ($24.94) million during the quarter, compared to analysts' expectations of $28.26 million. On average, research analysts expect that Esquire Financial Holdings, Inc. will post 5.52 EPS for the current year.

Esquire Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, August 15th. Esquire Financial's dividend payout ratio (DPR) is 12.92%.

Institutional Investors Weigh In On Esquire Financial

A number of hedge funds have recently bought and sold shares of the company. Arcus Capital Partners LLC bought a new stake in shares of Esquire Financial in the first quarter valued at about $314,000. Horizon Investment Services LLC raised its position in Esquire Financial by 16.5% in the first quarter. Horizon Investment Services LLC now owns 38,911 shares of the company's stock worth $2,933,000 after purchasing an additional 5,522 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Esquire Financial in the fourth quarter worth about $545,000. American Century Companies Inc. raised its position in Esquire Financial by 16.8% in the fourth quarter. American Century Companies Inc. now owns 166,915 shares of the company's stock worth $13,270,000 after purchasing an additional 23,998 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Esquire Financial by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 387,730 shares of the company's stock worth $30,825,000 after purchasing an additional 21,266 shares in the last quarter. 54.66% of the stock is currently owned by institutional investors.

Esquire Financial Company Profile

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.