Esquire Financial Holdings, Inc. (NASDAQ:ESQ) Shares Sold by Pacific Ridge Capital Partners LLC

Key Points

• Pacific Ridge Capital Partners LLC reduced its stake in Esquire Financial Holdings by 20.0%, now holding 53,151 shares valued at approximately $4,007,000.
• Esquire Financial recently declared a quarterly dividend of $0.175 per share, indicating an annualized yield of 0.7% and a dividend payout ratio of 12.92%.
• Analysts have set a new target price of $110.00 for Esquire Financial, raising it from a previous target of $102.00, with the company recently reporting earnings of $1.38 per share.

Pacific Ridge Capital Partners LLC reduced its holdings in shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Free Report) by 20.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 53,151 shares of the company's stock after selling 13,254 shares during the period. Pacific Ridge Capital Partners LLC owned about 0.63% of Esquire Financial worth $4,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc bought a new position in shares of Esquire Financial in the 1st quarter worth $26,000. Rhumbline Advisers grew its stake in Esquire Financial by 3.7% during the 1st quarter. Rhumbline Advisers now owns 11,608 shares of the company's stock valued at $875,000 after purchasing an additional 409 shares during the last quarter. XTX Topco Ltd grew its stake in Esquire Financial by 15.1% during the 1st quarter. XTX Topco Ltd now owns 3,295 shares of the company's stock valued at $248,000 after purchasing an additional 433 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Esquire Financial by 151.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 788 shares of the company's stock valued at $63,000 after purchasing an additional 474 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Esquire Financial by 16.3% during the 4th quarter. Deutsche Bank AG now owns 4,055 shares of the company's stock valued at $322,000 after purchasing an additional 568 shares during the last quarter. 54.66% of the stock is owned by institutional investors.

Esquire Financial Price Performance

ESQ stock traded down $0.40 during mid-day trading on Wednesday, reaching $94.23. 10,574 shares of the company's stock were exchanged, compared to its average volume of 92,739. The company has a market cap of $797.19 million, a price-to-earnings ratio of 17.34 and a beta of 0.57. The stock's 50 day moving average is $94.85 and its 200 day moving average is $86.07. Esquire Financial Holdings, Inc. has a 12-month low of $54.86 and a 12-month high of $106.11.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.38 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.38. The company had revenue of ($24.94) million for the quarter, compared to the consensus estimate of $28.26 million. Esquire Financial had a return on equity of 19.33% and a net margin of 30.96%. 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 announced 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.7%. Esquire Financial's dividend payout ratio is presently 12.92%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $110.00 price target (up previously from $102.00) on shares of Esquire Financial in a research note on Friday, July 25th. Wall Street Zen upgraded Esquire Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th.

Insider Activity at Esquire Financial

In other Esquire Financial news, Director Selig Zises sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $95.38, for a total transaction of $476,900.00. Following the completion of the transaction, the director owned 29,501 shares of the company's stock, valued at $2,813,805.38. This represents a 14.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.00% of the stock is owned by insiders.

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.