Esquire Financial (NASDAQ:ESQ) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Esquire Financial (NASDAQ:ESQ) posted its quarterly earnings results on Thursday. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02, reports. Esquire Financial had a net margin of 31.36% and a return on equity of 19.92%. The company had revenue of $31.92 million during the quarter, compared to analysts’ expectations of $31.48 million.

Esquire Financial Trading Down 1.7 %

Shares of Esquire Financial stock traded down $1.14 on Friday, hitting $64.60. The stock had a trading volume of 25,396 shares, compared to its average volume of 33,989. The stock has a market cap of $535.73 million, a price-to-earnings ratio of 13.89 and a beta of 0.70. Esquire Financial has a 52-week low of $44.02 and a 52-week high of $67.78. The company’s 50 day moving average price is $62.11 and its 200 day moving average price is $54.04.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price (up previously from $72.00) on shares of Esquire Financial in a report on Friday. Keefe, Bruyette & Woods lowered Esquire Financial from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $68.00 to $72.00 in a research report on Wednesday, October 2nd.

Hedge Funds Weigh In On Esquire Financial

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its position in Esquire Financial by 1.2% during the 1st quarter. Acadian Asset Management LLC now owns 31,015 shares of the company’s stock worth $1,471,000 after purchasing an additional 355 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Esquire Financial by 4.1% during the second quarter. Rhumbline Advisers now owns 11,236 shares of the company’s stock worth $535,000 after buying an additional 439 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Esquire Financial in the 1st quarter valued at about $42,000. Vanguard Group Inc. raised its stake in Esquire Financial by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 368,375 shares of the company’s stock valued at $17,487,000 after acquiring an additional 966 shares during the last quarter. Finally, Copeland Capital Management LLC acquired a new stake in Esquire Financial during the 3rd quarter worth approximately $64,000. 54.66% of the stock is currently 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.