Esquire Financial (NASDAQ:ESQ) Sees Large Volume Increase – Should You Buy?

Shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ) saw unusually-strong trading volume on Friday . Approximately 97,538 shares traded hands during trading, an increase of 55% from the previous session’s volume of 63,055 shares.The stock last traded at $85.25 and had previously closed at $84.27.

Analyst Ratings Changes

Several equities research analysts have issued reports on ESQ shares. Piper Sandler reiterated an “overweight” rating and set a $75.00 target price (up from $72.00) on shares of Esquire Financial in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their target price on Esquire Financial from $72.00 to $80.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Esquire Financial Price Performance

The firm’s 50 day moving average price is $77.85 and its 200-day moving average price is $66.08. The stock has a market cap of $710.82 million, a P/E ratio of 17.19 and a beta of 0.73.

Esquire Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, November 15th. Esquire Financial’s dividend payout ratio is currently 12.07%.

Insider Buying and Selling at Esquire Financial

In other news, Director Selig Zises sold 8,000 shares of Esquire Financial stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $76.77, for a total transaction of $614,160.00. Following the transaction, the director now owns 62,601 shares in the company, valued at $4,805,878.77. This trade represents a 11.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Melohn sold 3,000 shares of the company’s 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. The trade was 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 Investors Weigh In On Esquire Financial

Institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its stake in Esquire Financial by 0.8% during the third quarter. Wasatch Advisors LP now owns 566,001 shares of the company’s stock valued at $36,909,000 after purchasing an additional 4,426 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Esquire Financial by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 202,847 shares of the company’s stock valued at $9,655,000 after buying an additional 17,333 shares during the period. Geode Capital Management LLC lifted its position in shares of Esquire Financial by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 182,259 shares of the company’s stock worth $11,887,000 after purchasing an additional 6,025 shares during the period. State Street Corp lifted its stake in shares of Esquire Financial by 8.5% during the 3rd quarter. State Street Corp now owns 144,344 shares of the company’s stock worth $9,413,000 after purchasing an additional 11,345 shares during the last quarter. Finally, 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 acquiring an additional 21,833 shares in the last quarter. 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.