Esquire Financial (NASDAQ:ESQ) Stock Price Down 3.5% After Earnings Miss

Esquire Financial Holdings, Inc. (NASDAQ:ESQ)’s stock price dropped 3.5% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $82.36 and last traded at $83.15. Approximately 19,290 shares were traded during trading, a decline of 74% from the average daily volume of 72,886 shares. The stock had previously closed at $86.12.

The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Esquire Financial had a net margin of 31.38% and a return on equity of 19.53%.

Esquire Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, November 15th. Esquire Financial’s dividend payout ratio (DPR) is 11.63%.

Analyst Ratings Changes

ESQ has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price (up from $72.00) on shares of Esquire Financial in a research report on Friday, October 25th. Raymond James cut shares of Esquire Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods increased their price target on shares of Esquire Financial from $72.00 to $80.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Insider Transactions at Esquire Financial

In other news, Director Selig Zises sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $76.77, for a total value of $614,160.00. Following the completion of the sale, the director now owns 62,601 shares in the company, valued at approximately $4,805,878.77. This trade represents a 11.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Melohn sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $79.15, for a total transaction of $237,450.00. Following the completion of the sale, the director now owns 3,683 shares of the company’s stock, valued at $291,509.45. This trade represents a 44.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Esquire Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in shares of Esquire Financial by 36.6% in the third quarter. Farther Finance Advisors LLC now owns 798 shares of the company’s stock valued at $52,000 after purchasing an additional 214 shares during the period. Quantbot Technologies LP purchased a new position in Esquire Financial during the 3rd quarter valued at about $54,000. Copeland Capital Management LLC purchased a new position in Esquire Financial during the 3rd quarter valued at about $64,000. FMR LLC increased its holdings in Esquire Financial by 14.3% during the 3rd quarter. FMR LLC now owns 2,115 shares of the company’s stock valued at $138,000 after acquiring an additional 264 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Esquire Financial during the 3rd quarter valued at about $151,000. Institutional investors and hedge funds own 54.66% of the company’s stock.

Esquire Financial Stock Performance

The company’s fifty day simple moving average is $79.38 and its two-hundred day simple moving average is $67.88. The stock has a market capitalization of $684.57 million, a PE ratio of 16.55 and a beta of 0.73.

Esquire Financial Company Profile

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.