Wall Street Zen Downgrades Esquire Financial (NASDAQ:ESQ) to Sell

Key Points

• Wall Street Zen has downgraded Esquire Financial's rating from "hold" to "sell," signaling potential concerns about the company's future performance.
• Despite the downgrade, Keefe, Bruyette & Woods maintains a "market perform" rating for Esquire Financial, with a revised price target of $110.00.
• Esquire Financial reported a net margin of 30.96% and an earnings per share (EPS) of $1.38, which met analyst expectations, but revenue fell short of projections.

Esquire Financial (NASDAQ:ESQ - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Separately, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $110.00 price objective (up previously from $102.00) on shares of Esquire Financial in a research note on Friday, July 25th.

Esquire Financial Stock Performance

NASDAQ ESQ opened at $95.55 on Friday. The stock has a market capitalization of $816.00 million, a price-to-earnings ratio of 17.63 and a beta of 0.57. The stock's 50 day moving average price is $95.80 and its two-hundred day moving average price is $86.60. Esquire Financial has a 52 week low of $56.50 and a 52 week high of $106.11.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $1.38 EPS for the quarter, meeting the consensus estimate of $1.38. The firm had revenue of ($24.94) million for the quarter, compared to analysts' expectations of $28.26 million. Esquire Financial had a return on equity of 18.87% and a net margin of 30.96%. On average, equities research analysts forecast that Esquire Financial will post 5.52 EPS for the current year.

Insiders Place Their Bets

In related news, Director Selig Zises sold 5,000 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $95.38, for a total value of $476,900.00. Following the sale, the director owned 29,501 shares in the company, valued at approximately $2,813,805.38. This represents a 14.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.00% of the company's stock.

Institutional Investors Weigh In On Esquire Financial

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Esquire Financial by 16.3% in the 4th quarter. JPMorgan Chase & Co. now owns 27,340 shares of the company's stock valued at $2,174,000 after buying an additional 3,840 shares in the last quarter. Geode Capital Management LLC grew its holdings in Esquire Financial by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 185,901 shares of the company's stock valued at $14,783,000 after buying an additional 3,642 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Esquire Financial by 7.7% in the 4th quarter. Wells Fargo & Company MN now owns 15,275 shares of the company's stock valued at $1,214,000 after buying an additional 1,095 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Esquire Financial in the 4th quarter valued at $545,000. Finally, Barclays PLC grew its holdings in Esquire Financial by 8.4% in the 4th quarter. Barclays PLC now owns 11,173 shares of the company's stock valued at $888,000 after buying an additional 865 shares in the last quarter. Institutional investors own 54.66% of the company's stock.

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.

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