Wasatch Advisors LP Decreases Stock Position in Esquire Financial Holdings, Inc. $ESQ

Key Points

• Wasatch Advisors cut its Esquire Financial position by 15.1% in the second quarter, selling 51,804 shares and retaining 292,242 shares valued at approximately $34.8 million. Institutional investors collectively own 54.66% of ESQ.
• Esquire Financial shares rose 3.0% to $132.92, near the stock’s 52-week high of $134.82. The company exceeded quarterly earnings expectations, reporting $1.60 EPS and $42.13 million in revenue.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 0.6% yield. Analysts maintain a consensus “Buy” rating, with an average price target of $120.33.

Wasatch Advisors LP cut its holdings in Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Free Report) by 15.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,242 shares of the company's stock after selling 51,804 shares during the quarter. Wasatch Advisors LP owned 3.38% of Esquire Financial worth $34,809,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ESQ. Mawer Investment Management Ltd. lifted its holdings in shares of Esquire Financial by 3.1% during the fourth quarter. Mawer Investment Management Ltd. now owns 800,465 shares of the company's stock valued at $81,703,000 after purchasing an additional 23,692 shares in the last quarter. Vanguard Group Inc. increased its holdings in Esquire Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 450,577 shares of the company's stock worth $45,990,000 after buying an additional 11,699 shares in the last quarter. Copeland Capital Management LLC raised its position in Esquire Financial by 14.7% in the 1st quarter. Copeland Capital Management LLC now owns 304,647 shares of the company's stock worth $32,750,000 after buying an additional 39,097 shares during the last quarter. Ampfield Management L.P. lifted its stake in Esquire Financial by 23.0% during the 1st quarter. Ampfield Management L.P. now owns 233,216 shares of the company's stock valued at $25,071,000 after acquiring an additional 43,633 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Esquire Financial by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 224,204 shares of the company's stock valued at $22,887,000 after acquiring an additional 8,658 shares during the last quarter. 54.66% of the stock is currently owned by hedge funds and other institutional investors.

Esquire Financial Stock Up 3.0%

Shares of NASDAQ:ESQ opened at $132.92 on Wednesday. The firm has a fifty day simple moving average of $119.81 and a two-hundred day simple moving average of $112.43. Esquire Financial Holdings, Inc. has a 52 week low of $92.10 and a 52 week high of $134.82. The stock has a market capitalization of $1.15 billion, a P/E ratio of 21.93 and a beta of 0.38.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.04. Esquire Financial had a net margin of 29.30% and a return on equity of 18.59%. The firm had revenue of $42.13 million for the quarter, compared to analysts' expectations of $41.59 million. On average, analysts expect that Esquire Financial Holdings, Inc. will post 6.9 earnings per share for the current year.

Esquire Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Esquire Financial's dividend payout ratio (DPR) is presently 13.20%.

Insider Activity

In other news, Director Robert Mitzman sold 3,000 shares of Esquire Financial stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $129.60, for a total value of $388,800.00. Following the completion of the transaction, the director owned 139,679 shares in the company, valued at approximately $18,102,398.40. The trade was a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ESQ. Weiss Ratings cut shares of Esquire Financial from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, July 31st. Wall Street Zen raised Esquire Financial from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price 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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