Esquire Financial (NASDAQ:ESQ) Sets New 52-Week High – Here’s Why

Esquire Financial Holdings, Inc. (NASDAQ:ESQ) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $108.77 and last traded at $108.8390, with a volume of 39256 shares changing hands. The stock had previously closed at $105.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ESQ shares. Piper Sandler upped their price objective on Esquire Financial from $113.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Esquire Financial in a report on Monday. Finally, Wall Street Zen lowered shares of Esquire Financial from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Esquire Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Esquire Financial Trading Down 1.4%

The company has a 50-day moving average of $100.81 and a 200-day moving average of $98.55. The company has a market capitalization of $916.99 million, a price-to-earnings ratio of 18.77 and a beta of 0.42.

Esquire Financial (NASDAQ:ESQ) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.01. The business had revenue of $37.57 million during the quarter, compared to the consensus estimate of $30.21 million. Esquire Financial had a return on equity of 18.55% and a net margin of 31.26%. On average, research analysts expect that Esquire Financial Holdings, Inc. will post 5.52 EPS for the current year.

Esquire Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were paid a dividend of $0.175 per share. The ex-dividend date was Friday, November 14th. This represents a $0.70 dividend on an annualized basis and a yield of 0.7%. Esquire Financial’s dividend payout ratio is presently 12.28%.

Institutional Investors Weigh In On Esquire Financial

A number of large investors have recently made changes to their positions in ESQ. Copeland Capital Management LLC raised its stake in Esquire Financial by 40,107.1% in the 2nd quarter. Copeland Capital Management LLC now owns 244,861 shares of the company’s stock worth $23,179,000 after acquiring an additional 244,252 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Esquire Financial by 215.3% in the first quarter. Royal Bank of Canada now owns 81,087 shares of the company’s stock valued at $6,113,000 after purchasing an additional 55,367 shares during the period. American Century Companies Inc. raised its stake in shares of Esquire Financial by 25.8% in the first quarter. American Century Companies Inc. now owns 209,991 shares of the company’s stock worth $15,829,000 after purchasing an additional 43,076 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Esquire Financial in the second quarter worth about $2,438,000. Finally, Nuveen LLC acquired a new stake in shares of Esquire Financial during the first quarter worth about $1,694,000. 54.66% of the stock is owned by hedge funds and other institutional investors.

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.