Esquire Financial’s (ESQ) “Overweight” Rating Reiterated at Piper Sandler

Esquire Financial (NASDAQ:ESQ)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $75.00 price target on the stock, up from their previous price target of $72.00. Piper Sandler’s price objective would indicate a potential upside of 13.45% from the company’s previous close.

Separately, Keefe, Bruyette & Woods cut Esquire Financial from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $68.00 to $72.00 in a research report on Wednesday, October 2nd.

Esquire Financial Stock Up 0.6 %

Shares of NASDAQ ESQ traded up $0.37 during mid-day trading on Friday, hitting $66.11. 2,471 shares of the company traded hands, compared to its average volume of 33,879. The business has a 50 day moving average of $61.97 and a two-hundred day moving average of $53.92. The stock has a market capitalization of $548.25 million, a price-to-earnings ratio of 14.17 and a beta of 0.70. Esquire Financial has a 1 year low of $44.02 and a 1 year high of $67.78.

Esquire Financial (NASDAQ:ESQ) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Esquire Financial had a net margin of 31.36% and a return on equity of 19.92%. The business had revenue of $33.66 million for the quarter, compared to analyst estimates of $29.99 million. As a group, research analysts anticipate that Esquire Financial will post 5.14 EPS for the current year.

Hedge Funds Weigh In On Esquire Financial

Several institutional investors have recently added to or reduced their stakes in the company. Rosenthal Henry Capital Advisors Inc. bought a new position in shares of Esquire Financial in the 1st quarter worth $1,899,000. Grandeur Peak Global Advisors LLC grew its position in Esquire Financial by 50.0% in the first quarter. Grandeur Peak Global Advisors LLC now owns 85,695 shares of the company’s stock valued at $4,068,000 after purchasing an additional 28,569 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Esquire Financial by 21.7% during the 2nd quarter. American Century Companies Inc. now owns 122,222 shares of the company’s stock worth $5,818,000 after purchasing an additional 21,833 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Esquire Financial in the 2nd quarter valued at about $954,000. Finally, Marshall Wace LLP acquired a new position in shares of Esquire Financial in the second quarter valued at $926,000. 54.66% of the stock is owned by institutional investors.

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.