Esquire Financial (NASDAQ:ESQ) Downgraded by Keefe, Bruyette & Woods to “Market Perform”

Esquire Financial (NASDAQ:ESQ) was downgraded by investment analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, Briefing.com reports. They currently have a $72.00 price target on the stock, up from their prior price target of $68.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 15.02% from the stock’s previous close.

Esquire Financial Stock Down 4.0 %

ESQ opened at $62.60 on Wednesday. The company’s 50-day moving average price is $59.88 and its 200 day moving average price is $52.04. Esquire Financial has a fifty-two week low of $43.24 and a fifty-two week high of $66.18. The firm has a market cap of $519.14 million, a price-to-earnings ratio of 13.46 and a beta of 0.70.

Esquire Financial (NASDAQ:ESQ) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.04. The business had revenue of $33.66 million for the quarter, compared to the consensus estimate of $29.99 million. Esquire Financial had a return on equity of 19.92% and a net margin of 31.36%. Research analysts anticipate that Esquire Financial will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On Esquire Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in shares of Esquire Financial by 1.2% in the 1st quarter. Acadian Asset Management LLC now owns 31,015 shares of the company’s stock worth $1,471,000 after acquiring an additional 355 shares during the period. Rhumbline Advisers boosted its stake in Esquire Financial by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 11,236 shares of the company’s stock valued at $535,000 after purchasing an additional 439 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Esquire Financial during the 1st quarter valued at $42,000. Vanguard Group Inc. raised its stake in shares of Esquire Financial by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 368,375 shares of the company’s stock worth $17,487,000 after buying an additional 966 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of Esquire Financial by 10.6% in the first quarter. GSA Capital Partners LLP now owns 11,066 shares of the company’s stock valued at $525,000 after buying an additional 1,065 shares during the period. 54.66% of the stock is owned by 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.