Esquire Financial (NASDAQ:ESQ) Shares Gap Up – Should You Buy?

Esquire Financial Holdings, Inc. (NASDAQ:ESQ) shares gapped up prior to trading on Wednesday . The stock had previously closed at $77.75, but opened at $80.61. Esquire Financial shares last traded at $79.27, with a volume of 17,106 shares trading hands.

Wall Street Analysts Forecast Growth

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

Esquire Financial Price Performance

The firm’s 50 day moving average price is $72.47 and its two-hundred day moving average price is $61.40. The firm has a market cap of $644.88 million, a price-to-earnings ratio of 15.59 and a beta of 0.74.

Esquire Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, November 15th. Esquire Financial’s payout ratio is currently 12.07%.

Insider Transactions at Esquire Financial

In related news, Director Selig Zises sold 8,000 shares of Esquire Financial stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $76.77, for a total value of $614,160.00. Following the sale, the director now directly owns 62,601 shares in the company, valued at $4,805,878.77. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rena Nigam acquired 640 shares of the business’s stock in a transaction on Monday, December 9th. The stock was acquired at an average price of $77.50 per share, with a total value of $49,600.00. Following the transaction, the director now directly owns 1,867 shares of the company’s stock, valued at $144,692.50. This represents a 52.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. acquired a new stake in Esquire Financial during the 3rd quarter valued at $252,000. Barclays PLC boosted its stake in shares of Esquire Financial by 322.6% during the third quarter. Barclays PLC now owns 10,308 shares of the company’s stock valued at $672,000 after acquiring an additional 7,869 shares during the last quarter. Geode Capital Management LLC increased its position in 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 purchasing an additional 6,025 shares in the last quarter. State Street Corp raised its stake in Esquire Financial by 8.5% in the 3rd quarter. State Street Corp now owns 144,344 shares of the company’s stock valued at $9,413,000 after purchasing an additional 11,345 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in Esquire Financial by 0.8% in the 3rd 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. 54.66% of the stock is owned by hedge funds and other institutional investors.

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.