Horizon Investment Services LLC Purchases New Position in Esquire Financial Holdings, Inc. $ESQ

Key Points

• Horizon Investment Services purchased 35,501 shares of Esquire Financial, valued at approximately $4.23 million, giving it a 0.41% stake. Institutional investors collectively own 54.66% of the company.
• Esquire Financial reported quarterly earnings of $1.60 per share, beating estimates of $1.56, while revenue of $42.13 million also exceeded forecasts. Analysts maintain an overall “Buy” rating, with an average price target of $120.33.
• The company declared a quarterly dividend of $0.20 per share, or $0.80 annually, representing a 0.6% yield and a 13.2% payout ratio.

Horizon Investment Services LLC purchased a new stake in shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 35,501 shares of the company's stock, valued at approximately $4,229,000. Horizon Investment Services LLC owned approximately 0.41% of Esquire Financial at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ESQ. Comerica Bank boosted its position in shares of Esquire Financial by 8.5% during the 4th quarter. Comerica Bank now owns 1,399 shares of the company's stock valued at $143,000 after acquiring an additional 110 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Esquire Financial by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,178 shares of the company's stock worth $315,000 after purchasing an additional 156 shares during the last quarter. Diversified Trust Co increased its position in Esquire Financial by 11.7% in the first quarter. Diversified Trust Co now owns 2,412 shares of the company's stock worth $259,000 after purchasing an additional 252 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Esquire Financial by 64.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 690 shares of the company's stock valued at $70,000 after purchasing an additional 270 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Esquire Financial by 3.6% during the fourth quarter. AQR Capital Management LLC now owns 7,866 shares of the company's stock valued at $803,000 after purchasing an additional 271 shares in the last quarter. Institutional investors own 54.66% of the company's stock.

Esquire Financial Stock Performance

Shares of Esquire Financial stock opened at $128.06 on Monday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 21.13 and a beta of 0.38. The stock has a 50 day moving average price of $121.20 and a 200-day moving average price of $112.89. Esquire Financial Holdings, Inc. has a one year low of $92.10 and a one year high of $134.82.

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

Esquire Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. Esquire Financial's payout ratio is 13.20%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ESQ. Weiss Ratings raised shares of Esquire Financial from a "buy (b)" rating to a "buy (a-)" rating in a research note on Thursday. Wall Street Zen upgraded shares of Esquire Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $120.33.

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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