Sierra Summit Advisors LLC Invests $623,000 in Esquire Financial Holdings, Inc. (NASDAQ:ESQ)

Key Points

• Sierra Summit Advisors LLC acquired a new position in Esquire Financial Holdings, Inc., purchasing 8,267 shares valued at approximately $623,000 during the 1st quarter.
• The company declared a quarterly dividend of $0.175 per share, which will be paid on September 2nd, representing an annual yield of 0.7%.
• Esquire Financial's most recent earnings report showed an EPS of $1.38, matching analysts' expectations, with projected annual EPS growth of 5.52.

Sierra Summit Advisors LLC purchased a new position in Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,267 shares of the company's stock, valued at approximately $623,000. Sierra Summit Advisors LLC owned about 0.10% of Esquire Financial at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ESQ. Swiss National Bank acquired a new position in Esquire Financial during the first quarter worth approximately $1,033,000. Vanguard Group Inc. increased its position in Esquire Financial by 3.9% during the first quarter. Vanguard Group Inc. now owns 402,688 shares of the company's stock worth $30,355,000 after purchasing an additional 14,958 shares during the last quarter. Gruss & Co. LLC purchased a new stake in Esquire Financial during the first quarter worth approximately $463,000. XTX Topco Ltd grew its stake in Esquire Financial by 15.1% during the first quarter. XTX Topco Ltd now owns 3,295 shares of the company's stock worth $248,000 after buying an additional 433 shares during the period. Finally, Mawer Investment Management Ltd. grew its stake in Esquire Financial by 85.6% during the first quarter. Mawer Investment Management Ltd. now owns 779,889 shares of the company's stock worth $58,788,000 after buying an additional 359,677 shares during the period. 54.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on ESQ shares. Wall Street Zen raised 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 previously from $102.00) on shares of Esquire Financial in a research note on Friday, July 25th.

Insider Activity

In other Esquire Financial news, Director Selig Zises sold 5,000 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $95.38, for a total transaction of $476,900.00. Following the sale, the director directly owned 29,501 shares of the company's stock, valued at approximately $2,813,805.38. This represents a 14.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 18.00% of the company's stock.

Esquire Financial Trading Up 4.4%

Esquire Financial stock traded up $4.13 during midday trading on Tuesday, hitting $97.88. The stock had a trading volume of 99,543 shares, compared to its average volume of 100,430. The business has a fifty day moving average price of $95.31 and a 200 day moving average price of $86.35. Esquire Financial Holdings, Inc. has a 12 month low of $54.95 and a 12 month high of $106.11. The stock has a market cap of $835.90 million, a P/E ratio of 18.06 and a beta of 0.57.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.38 EPS for the quarter, hitting the consensus estimate of $1.38. The company had revenue of ($24.94) million during the quarter, compared to analyst estimates of $28.26 million. Esquire Financial had a return on equity of 18.87% and a net margin of 30.96%. On average, equities analysts anticipate that Esquire Financial Holdings, Inc. will post 5.52 EPS for the current fiscal year.

Esquire Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Esquire Financial's dividend payout ratio is currently 12.92%.

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.