Granite Investment Partners LLC Invests $6.59 Million in Esquire Financial Holdings, Inc. $ESQ

Key Points

• Granite Investment Partners bought a new stake in Esquire Financial Holdings, acquiring 61,334 shares worth about $6.59 million in the first quarter, or roughly 0.71% of the company.
• Esquire Financial beat earnings expectations for its latest quarter, reporting $1.58 EPS versus the $1.52 consensus, while revenue came in slightly below estimates at $40.46 million.
• The company also paid a quarterly dividend of $0.20 per share, and analysts currently have a Buy consensus with a price target around $120.33.

Granite Investment Partners LLC acquired a new stake in Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 61,334 shares of the company's stock, valued at approximately $6,593,000. Granite Investment Partners LLC owned approximately 0.71% of Esquire Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ESQ. Langdon Equity Partners acquired a new stake in shares of Esquire Financial in the 4th quarter valued at $14,609,000. Royal Bank of Canada lifted its position in shares of Esquire Financial by 215.3% during the 1st quarter. Royal Bank of Canada now owns 81,087 shares of the company's stock worth $6,113,000 after purchasing an additional 55,367 shares during the last quarter. Ampfield Management L.P. grew its stake in shares of Esquire Financial by 23.0% during the first quarter. Ampfield Management L.P. now owns 233,216 shares of the company's stock worth $25,071,000 after purchasing an additional 43,633 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Esquire Financial by 86.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 69,687 shares of the company's stock valued at $7,113,000 after buying an additional 32,326 shares during the last quarter. Finally, Copeland Capital Management LLC increased its holdings in Esquire Financial by 11.6% in the fourth quarter. Copeland Capital Management LLC now owns 265,550 shares of the company's stock valued at $27,105,000 after buying an additional 27,528 shares during the last quarter. 54.66% of the stock is currently owned by hedge funds and other institutional investors.

Esquire Financial Trading Down 2.4%

Shares of Esquire Financial stock opened at $117.56 on Thursday. The company has a fifty day simple moving average of $111.77 and a 200-day simple moving average of $109.18. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 19.76 and a beta of 0.39. Esquire Financial Holdings, Inc. has a 12-month low of $90.57 and a 12-month high of $134.82.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.06. Esquire Financial had a return on equity of 18.30% and a net margin of 29.96%.The business had revenue of $40.46 million during the quarter, compared to the consensus estimate of $40.76 million. On average, analysts forecast that Esquire Financial Holdings, Inc. will post 6.53 earnings per share for the current fiscal year.

Esquire Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.7%. Esquire Financial's dividend payout ratio (DPR) is 13.45%.

Analyst Upgrades and Downgrades

ESQ has been the subject of a number of recent analyst reports. Raymond James Financial raised Esquire Financial from a "market perform" rating to a "strong-buy" rating and set a $125.00 price target for the company in a report on Friday, March 13th. Weiss Ratings downgraded Esquire Financial from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen lowered Esquire Financial from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Esquire Financial currently has a consensus rating of "Buy" and a consensus price target of $120.33.

About Esquire Financial

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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