Bank of New York Mellon Corp Invests $4.04 Million in Esquire Financial Holdings, Inc. $ESQ

Key Points

• Bank of New York Mellon acquired 33,940 shares of Esquire Financial Holdings worth approximately $4.04 million, representing about 0.39% of the company. Institutional investors collectively own 54.66% of ESQ.
• Esquire Financial exceeded quarterly expectations, reporting $1.60 EPS versus the $1.56 consensus estimate and revenue of $42.13 million against estimates of $41.59 million.
• The company paid a quarterly dividend of $0.20 per share, equal to an annualized $0.80 and a 0.7% yield. Analysts maintain an overall “Buy” rating with an average price target of $120.33.

Bank of New York Mellon Corp acquired a new position in shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 33,940 shares of the company's stock, valued at approximately $4,043,000. Bank of New York Mellon Corp owned approximately 0.39% of Esquire Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of ESQ. Royal Bank of Canada boosted its stake in shares of Esquire Financial by 215.3% in the 1st quarter. Royal Bank of Canada now owns 81,087 shares of the company's stock valued at $6,113,000 after purchasing an additional 55,367 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Esquire Financial by 69.5% during the first quarter. AQR Capital Management LLC now owns 12,367 shares of the company's stock worth $932,000 after buying an additional 5,071 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Esquire Financial by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,178 shares of the company's stock worth $315,000 after buying an additional 156 shares during the last quarter. Creative Planning lifted its holdings in Esquire Financial by 54.2% in the second quarter. Creative Planning now owns 4,676 shares of the company's stock valued at $443,000 after buying an additional 1,643 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Esquire Financial by 9.6% in the second quarter. JPMorgan Chase & Co. now owns 5,684 shares of the company's stock valued at $538,000 after buying an additional 499 shares during the period. 54.66% of the stock is currently owned by institutional investors.

Esquire Financial Stock Performance

NASDAQ ESQ opened at $118.96 on Friday. Esquire Financial Holdings, Inc. has a 52 week low of $92.10 and a 52 week high of $134.82. The stock's 50 day moving average price is $121.77 and its two-hundred day moving average price is $113.35. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 19.63 and a beta of 0.35.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.04. Esquire Financial had a return on equity of 18.22% and a net margin of 29.30%.The business had revenue of $42.13 million for the quarter, compared to analyst estimates of $41.59 million. On average, equities research analysts forecast that Esquire Financial Holdings, Inc. will post 6.9 EPS for the current year.

Esquire Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. Esquire Financial's dividend payout ratio (DPR) is currently 13.20%.

Analyst Upgrades and Downgrades

ESQ has been the subject of a number of analyst reports. Wall Street Zen raised Esquire Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings lowered Esquire Financial from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Esquire Financial presently has an average rating of "Buy" and an average target price of $120.33.

Insider Buying and Selling at Esquire Financial

In other news, Director Robert Mitzman sold 3,000 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $129.60, for a total transaction of $388,800.00. Following the completion of the sale, the director directly owned 139,679 shares in the company, valued at approximately $18,102,398.40. This represents a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.90% of the company's stock.

Esquire Financial 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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