Esquire Financial (NASDAQ:ESQ) Stock Price Down 3.4% – Time to Sell?

Esquire Financial Holdings, Inc. (NASDAQ:ESQ)’s stock price was down 3.4% during mid-day trading on Wednesday . The stock traded as low as $73.00 and last traded at $73.00. Approximately 58,138 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 45,566 shares. The stock had previously closed at $75.55.

Wall Street Analysts Forecast Growth

ESQ has been the subject of several research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $85.00 price objective (up previously from $80.00) on shares of Esquire Financial in a research report on Monday, January 27th. Piper Sandler upped their price target on Esquire Financial from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, Raymond James cut Esquire Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, January 24th.

Esquire Financial Stock Performance

The stock has a 50-day moving average of $78.57 and a 200 day moving average of $74.98. The firm has a market capitalization of $606.51 million, a P/E ratio of 13.94 and a beta of 0.52.

Esquire Financial (NASDAQ:ESQ) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Esquire Financial had a return on equity of 19.93% and a net margin of 31.58%. On average, equities analysts predict that Esquire Financial Holdings, Inc. will post 5.52 EPS for the current year.

Esquire Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Esquire Financial’s previous quarterly dividend of $0.15. Esquire Financial’s payout ratio is 13.57%.

Insiders Place Their Bets

In other Esquire Financial news, Director Richard T. Powers sold 1,427 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.99, for a total value of $124,134.73. Following the transaction, the director now owns 58,997 shares of the company’s stock, valued at approximately $5,132,149.03. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Selig Zises sold 20,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $77.59, for a total value of $1,551,800.00. Following the transaction, the director now owns 35,501 shares of the company’s stock, valued at $2,754,522.59. The trade was a 36.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Esquire Financial

A number of hedge funds have recently modified their holdings of the company. Mawer Investment Management Ltd. bought a new stake in Esquire Financial in the fourth quarter valued at approximately $33,407,000. Ampfield Management L.P. grew its holdings in shares of Esquire Financial by 10.9% in the 4th quarter. Ampfield Management L.P. now owns 251,633 shares of the company’s stock valued at $20,005,000 after buying an additional 24,773 shares during the period. American Century Companies Inc. grew its holdings in shares of Esquire Financial by 16.8% in the 4th quarter. American Century Companies Inc. now owns 166,915 shares of the company’s stock valued at $13,270,000 after buying an additional 23,998 shares during the period. Vanguard Group Inc. increased its position in shares of Esquire Financial by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 387,730 shares of the company’s stock valued at $30,825,000 after buying an additional 21,266 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Esquire Financial by 161.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,500 shares of the company’s stock worth $1,532,000 after buying an additional 14,521 shares during the period. 54.66% of the stock is currently owned by institutional investors and hedge funds.

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.