Bank of New York Mellon Corp Purchases 5,745 Shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ)

Key Points

• Bank of New York Mellon Corp increased its stake in Esquire Financial Holdings by 16.7%, acquiring an additional 5,745 shares, bringing its total ownership to about 40,139 shares valued at approximately $3.03 million.
• Esquire Financial reported quarterly earnings of $1.38 per share, meeting analysts' expectations, although revenues fell short at $24.94 million against a forecast of $28.26 million.
• The company announced a quarterly dividend of $0.175 per share, with a payout ratio of 12.92%, set to be distributed to shareholders on September 2nd.

Bank of New York Mellon Corp increased its stake in shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Free Report) by 16.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,139 shares of the company's stock after acquiring an additional 5,745 shares during the period. Bank of New York Mellon Corp owned about 0.48% of Esquire Financial worth $3,026,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. bought a new stake in shares of Esquire Financial during the 4th quarter worth approximately $33,407,000. American Century Companies Inc. increased its position in Esquire Financial by 16.8% during the 4th 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. Vanguard Group Inc. increased its position in Esquire Financial by 5.8% during the 4th 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. Raymond James Financial Inc. acquired a new position in Esquire Financial during the 4th quarter worth approximately $545,000. Finally, Bosun Asset Management LLC acquired a new position in Esquire Financial during the 4th quarter worth approximately $487,000. Institutional investors own 54.66% of the company's stock.

Esquire Financial Stock Performance

Shares of NASDAQ:ESQ traded down $1.21 during trading on Thursday, reaching $94.93. The stock had a trading volume of 18,588 shares, compared to its average volume of 93,538. The firm's fifty day moving average is $94.43 and its 200 day moving average is $85.72. Esquire Financial Holdings, Inc. has a 52 week low of $54.49 and a 52 week high of $106.11. The stock has a market cap of $803.11 million, a price-to-earnings ratio of 17.51 and a beta of 0.52.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.38 earnings per share 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 firm had revenue of ($24.94) million for the quarter, compared to analyst estimates of $28.26 million. On average, research analysts forecast that Esquire Financial Holdings, Inc. will post 5.52 earnings per share for the current fiscal year.

Esquire Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.175 per share. The ex-dividend date is Friday, August 15th. This represents a $0.70 annualized dividend and a yield of 0.74%. Esquire Financial's dividend payout ratio is currently 12.92%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Esquire Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $110.00 price target (up from $102.00) on shares of Esquire Financial in a research report on Friday, July 25th.

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.