Cox Capital Mgt LLC Reduces Position in Esquire Financial Holdings, Inc. (NASDAQ:ESQ)

Cox Capital Mgt LLC lowered its position in Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Free Report) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,507 shares of the company's stock after selling 3,076 shares during the period. Esquire Financial comprises about 2.1% of Cox Capital Mgt LLC's investment portfolio, making the stock its 20th biggest holding. Cox Capital Mgt LLC owned 0.46% of Esquire Financial worth $2,903,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ESQ. Mawer Investment Management Ltd. purchased a new stake in Esquire Financial in the fourth quarter worth about $33,407,000. Vanguard Group Inc. increased its holdings in Esquire Financial by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 387,730 shares of the company's stock worth $30,825,000 after acquiring an additional 21,266 shares in the last quarter. Ampfield Management L.P. increased its holdings in Esquire Financial by 10.9% in the 4th quarter. Ampfield Management L.P. now owns 251,633 shares of the company's stock worth $20,005,000 after acquiring an additional 24,773 shares in the last quarter. Geode Capital Management LLC raised its stake in Esquire Financial by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 185,901 shares of the company's stock worth $14,783,000 after acquiring an additional 3,642 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Esquire Financial by 16.8% during the fourth quarter. American Century Companies Inc. now owns 166,915 shares of the company's stock valued at $13,270,000 after purchasing an additional 23,998 shares in the last quarter. Hedge funds and other institutional investors own 54.66% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Esquire Financial from $85.00 to $94.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th.

Esquire Financial Price Performance

Shares of NASDAQ:ESQ traded up $2.09 during trading on Tuesday, hitting $90.33. 78,849 shares of the company's stock were exchanged, compared to its average volume of 51,703. The business's 50-day simple moving average is $83.40 and its 200 day simple moving average is $80.75. The company has a market cap of $764.37 million, a price-to-earnings ratio of 17.51 and a beta of 0.51. Esquire Financial Holdings, Inc. has a 52-week low of $44.55 and a 52-week high of $92.50.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.03. Esquire Financial had a net margin of 31.58% and a return on equity of 19.93%. The firm had revenue of $33.76 million for the quarter, compared to analysts' expectations of $30.71 million. On average, sell-side analysts anticipate that Esquire Financial Holdings, Inc. will post 5.52 EPS for the current fiscal year.

Esquire Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 15th. Esquire Financial's payout ratio is currently 13.23%.

Insider Activity

In other news, EVP Ari P. Kornhaber sold 20,000 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $83.51, for a total transaction of $1,670,200.00. Following the sale, the executive vice president now directly owns 104,644 shares in the company, valued at approximately $8,738,820.44. This represents a 16.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin C. Waterhouse sold 3,000 shares of Esquire Financial stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $83.87, for a total value of $251,610.00. Following the completion of the transaction, the director now owns 86,599 shares of the company's stock, valued at approximately $7,263,058.13. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.00% of the company's stock.

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.