Esquire Financial (NASDAQ:ESQ) Cut to "Sell" at Wall Street Zen

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 Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Separately, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $110.00 price target (up previously from $102.00) on shares of Esquire Financial in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $100.50.

Esquire Financial Stock Performance

Shares of ESQ stock traded up $1.05 during trading hours on Friday, hitting $96.80. 54,684 shares of the company were exchanged, compared to its average volume of 86,504. Esquire Financial has a one year low of $56.78 and a one year high of $106.11. The business's 50-day simple moving average is $96.08 and its two-hundred day simple moving average is $86.79. The stock has a market capitalization of $826.67 million, a price-to-earnings ratio of 17.86 and a beta of 0.57.

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

Insider Buying and Selling at Esquire Financial

In other news, Director Selig Zises sold 5,000 shares of Esquire Financial stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $95.38, for a total transaction of $476,900.00. Following the sale, the director owned 29,501 shares of the company's stock, valued at approximately $2,813,805.38. The trade was a 14.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 hedge funds have recently made changes to their positions in ESQ. JPMorgan Chase & Co. raised its holdings in shares of Esquire Financial by 16.3% during the fourth 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 during the last quarter. Geode Capital Management LLC raised its holdings in shares of Esquire Financial by 2.0% during the fourth 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 during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Esquire Financial by 7.7% during the fourth 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 during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Esquire Financial during the fourth quarter valued at approximately $545,000. Finally, Barclays PLC raised its holdings in shares of Esquire Financial by 8.4% during the fourth quarter. Barclays PLC now owns 11,173 shares of the company's stock valued at $888,000 after buying an additional 865 shares during the last quarter. Institutional investors own 54.66% of the company's stock.

About Esquire Financial

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.