Esquire Financial (NASDAQ:ESQ) Downgraded by Keefe, Bruyette & Woods to Market Perform

Keefe, Bruyette & Woods downgraded shares of Esquire Financial (NASDAQ:ESQ) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have $72.00 target price on the stock, up from their prior target price of $68.00.

Esquire Financial Stock Performance

ESQ opened at $60.83 on Wednesday. Esquire Financial has a 52-week low of $43.24 and a 52-week high of $66.18. The stock has a market capitalization of $504.46 million, a PE ratio of 13.08 and a beta of 0.70. The stock’s 50 day moving average price is $59.88 and its 200-day moving average price is $52.04.

Esquire Financial (NASDAQ:ESQ) last posted its earnings results on Thursday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. Esquire Financial had a return on equity of 19.92% and a net margin of 31.36%. The firm had revenue of $33.66 million for the quarter, compared to analysts’ expectations of $29.99 million. Research analysts forecast that Esquire Financial will post 5.13 EPS for the current fiscal year.

Esquire Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.15 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.60 annualized dividend and a yield of 0.99%. Esquire Financial’s payout ratio is 12.90%.

Institutional Investors Weigh In On Esquire Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Esquire Financial in the first quarter worth $42,000. Meeder Asset Management Inc. purchased a new stake in Esquire Financial in the second quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Esquire Financial in the second quarter worth $91,000. Sanctuary Advisors LLC purchased a new stake in Esquire Financial in the second quarter worth $401,000. Finally, Cetera Advisors LLC purchased a new stake in Esquire Financial in the first quarter worth $420,000. 54.66% of the stock is owned by hedge funds and other 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.