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

Esquire Financial Holdings, Inc. (NASDAQ:ESQ) hit a new 52-week high on Wednesday . The company traded as high as $82.04 and last traded at $81.76, with a volume of 16723 shares traded. The stock had previously closed at $80.50.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ESQ. Keefe, Bruyette & Woods increased their target price on shares of Esquire Financial from $72.00 to $80.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Esquire Financial in a report on Friday, October 25th.

Esquire Financial Stock Down 3.5 %

The firm has a market cap of $650.70 million, a price-to-earnings ratio of 15.73 and a beta of 0.73. The firm has a 50 day moving average of $76.67 and a 200 day moving average of $64.88.

Esquire Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 0.77%. Esquire Financial’s dividend payout ratio (DPR) is currently 12.07%.

Insider Buying and Selling

In related news, Director Joseph Melohn sold 3,000 shares of Esquire Financial stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $79.15, for a total value of $237,450.00. Following the completion of the sale, the director now owns 3,683 shares of the company’s stock, valued at approximately $291,509.45. This trade represents a 44.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rena Nigam purchased 640 shares of the stock in a transaction dated Monday, December 9th. The stock was acquired at an average cost of $77.50 per share, for a total transaction of $49,600.00. Following the transaction, the director now owns 1,867 shares of the company’s stock, valued at approximately $144,692.50. This trade represents a 52.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ESQ. JPMorgan Chase & Co. raised its stake in Esquire Financial by 161.7% in the third quarter. JPMorgan Chase & Co. now owns 23,500 shares of the company’s stock valued at $1,532,000 after purchasing an additional 14,521 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Esquire Financial during the 3rd quarter valued at $252,000. Barclays PLC lifted its holdings in shares of Esquire Financial by 322.6% during the 3rd quarter. Barclays PLC now owns 10,308 shares of the company’s stock worth $672,000 after acquiring an additional 7,869 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Esquire Financial by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 182,259 shares of the company’s stock worth $11,887,000 after acquiring an additional 6,025 shares during the last quarter. Finally, State Street Corp grew its position in Esquire Financial by 8.5% in the third quarter. State Street Corp now owns 144,344 shares of the company’s stock worth $9,413,000 after acquiring an additional 11,345 shares in the last quarter. 54.66% of the stock is currently 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.