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

Esquire Financial Holdings, Inc. (NASDAQ:ESQ) saw unusually-high trading volume on Thursday . Approximately 42,511 shares changed hands during trading, a decline of 17% from the previous session’s volume of 51,332 shares.The stock last traded at $106.4540 and had previously closed at $104.50.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ESQ shares. Piper Sandler raised their price target on Esquire Financial from $113.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wall Street Zen cut Esquire Financial from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Esquire Financial in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.00.

Esquire Financial Stock Performance

The company’s fifty day moving average price is $103.05 and its two-hundred day moving average price is $100.39. The firm has a market capitalization of $918.70 million, a PE ratio of 18.82 and a beta of 0.43.

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

Esquire Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, November 14th. Esquire Financial’s payout ratio is currently 12.28%.

Hedge Funds Weigh In On Esquire Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sowell Financial Services LLC acquired a new position in shares of Esquire Financial during the third quarter worth $1,264,000. Geode Capital Management LLC grew its holdings in Esquire Financial by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 199,925 shares of the company’s stock valued at $18,927,000 after purchasing an additional 7,673 shares in the last quarter. Corient Private Wealth LLC increased its stake in Esquire Financial by 70.5% during the 2nd quarter. Corient Private Wealth LLC now owns 16,038 shares of the company’s stock worth $1,518,000 after buying an additional 6,629 shares during the period. American Century Companies Inc. lifted its holdings in Esquire Financial by 6.8% in the 2nd quarter. American Century Companies Inc. now owns 224,198 shares of the company’s stock worth $21,223,000 after buying an additional 14,207 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Esquire Financial by 99.2% in the 2nd quarter. Squarepoint Ops LLC now owns 25,712 shares of the company’s stock valued at $2,434,000 after buying an additional 12,802 shares during the last quarter. Institutional investors and hedge funds own 54.66% of the company’s stock.

Esquire Financial Company Profile

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.