Esquire Financial (NASDAQ:ESQ) Sets New 12-Month High – What’s Next?

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

Analysts Set New Price Targets

Several brokerages have recently commented on ESQ. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price objective (up previously from $72.00) on shares of Esquire Financial in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target 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.

Esquire Financial Stock Performance

The firm has a market cap of $674.83 million, a P/E ratio of 16.32 and a beta of 0.73. The stock’s 50 day simple moving average is $76.10 and its 200 day simple moving average is $64.65.

Esquire Financial Announces Dividend

The firm 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. The ex-dividend date was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.74%. Esquire Financial’s dividend payout ratio is presently 12.07%.

Insider Buying and Selling at Esquire Financial

In other Esquire Financial news, Director Rena Nigam acquired 640 shares of the company’s stock in a transaction on Monday, December 9th. The shares were acquired at an average cost of $77.50 per share, with a total value of $49,600.00. Following the completion of the acquisition, the director now directly owns 1,867 shares in the company, valued at $144,692.50. This trade represents a 52.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $237,450.00. Following the completion of the transaction, the director now owns 3,683 shares of the company’s stock, valued at $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 Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in 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 in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Esquire Financial by 79.8% in the third quarter. Assenagon Asset Management S.A. now owns 36,058 shares of the company’s stock worth $2,351,000 after buying an additional 16,007 shares in the last quarter. Franklin Resources Inc. bought a new stake in Esquire Financial during the third quarter valued at $252,000. State Street Corp grew its position in Esquire Financial by 8.5% during the third quarter. State Street Corp now owns 144,344 shares of the company’s stock worth $9,413,000 after buying an additional 11,345 shares in the last quarter. Finally, Barclays PLC increased its stake in Esquire Financial by 322.6% in 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. 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.