Esquire Financial (NASDAQ:ESQ) Upgraded to Hold at Wall Street Zen

Key Points

• Esquire Financial has been upgraded by Wall Street Zen from a "sell" to a "hold" rating, indicating a more favorable outlook for the stock.
• Keefe, Bruyette & Woods has increased its price target for Esquire Financial from $102.00 to $110.00, reflecting more positive sentiment among analysts.
• Insider trading activities have seen executives sell shares recently, with one EVP selling 20,000 shares valued at approximately $1.67 million, representing a 16.05% reduction in their ownership.

Wall Street Zen upgraded shares of Esquire Financial (NASDAQ:ESQ - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $110.00 price objective (up from $102.00) on shares of Esquire Financial in a report on Friday.

Esquire Financial Stock Down 0.5%

NASDAQ:ESQ traded down $0.53 during midday trading on Friday, reaching $96.71. The stock had a trading volume of 72,768 shares, compared to its average volume of 154,296. The firm has a fifty day simple moving average of $94.28 and a two-hundred day simple moving average of $85.65. Esquire Financial has a 12-month low of $54.49 and a 12-month high of $106.11. The stock has a market cap of $818.17 million, a P/E ratio of 17.84 and a beta of 0.52.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.38 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $28.26 million. On average, sell-side analysts anticipate that Esquire Financial will post 5.52 earnings per share for the current fiscal year.

Esquire Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.175 dividend. 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 is presently 12.92%.

Institutional Investors Weigh In On Esquire Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC lifted its stake in Esquire Financial by 40,107.1% in the second quarter. Copeland Capital Management LLC now owns 244,861 shares of the company's stock valued at $23,179,000 after buying an additional 244,252 shares during the last quarter. USA Financial Formulas raised its stake in shares of Esquire Financial by 99.7% during the second quarter. USA Financial Formulas now owns 1,338 shares of the company's stock valued at $127,000 after purchasing an additional 668 shares in the last quarter. Longboard Asset Management LP acquired a new stake in Esquire Financial in the second quarter worth about $233,000. Next Level Private LLC acquired a new stake in Esquire Financial in the second quarter worth about $237,000. Finally, Rhumbline Advisers grew its position in Esquire Financial by 3.7% in the 1st quarter. Rhumbline Advisers now owns 11,608 shares of the company's stock valued at $875,000 after buying an additional 409 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.