Esquire Financial (NASDAQ:ESQ) Sets New 1-Year High – Still a Buy?

Esquire Financial Holdings, Inc. (NASDAQ:ESQ)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $81.54 and last traded at $81.31, with a volume of 2828 shares changing hands. The stock had previously closed at $79.94.

Wall Street Analysts Forecast Growth

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

Esquire Financial Trading Up 2.2 %

The company has a market capitalization of $679.66 million, a P/E ratio of 16.43 and a beta of 0.74. The stock has a 50 day moving average of $74.40 and a 200-day moving average of $63.22.

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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, November 15th. Esquire Financial’s dividend payout ratio is currently 12.07%.

Insiders Place Their Bets

In other news, Director Rena Nigam acquired 640 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 1,867 shares of the company’s stock, valued at approximately $144,692.50. The trade was a 52.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Melohn sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were 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 directly owns 3,683 shares of the company’s stock, valued at approximately $291,509.45. This trade represents a 44.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Esquire Financial

Several institutional investors have recently modified their holdings of ESQ. American Century Companies Inc. boosted its stake in shares of Esquire Financial by 21.7% during the 2nd quarter. American Century Companies Inc. now owns 122,222 shares of the company’s stock worth $5,818,000 after purchasing an additional 21,833 shares during the period. Marshall Wace LLP bought a new stake in Esquire Financial in the second quarter worth about $926,000. Dimensional Fund Advisors LP boosted its position in shares of Esquire Financial by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 202,847 shares of the company’s stock valued at $9,655,000 after buying an additional 17,333 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Esquire Financial by 79.8% during the third quarter. Assenagon Asset Management S.A. now owns 36,058 shares of the company’s stock valued at $2,351,000 after buying an additional 16,007 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Esquire Financial by 161.7% during the third quarter. JPMorgan Chase & Co. now owns 23,500 shares of the company’s stock valued at $1,532,000 after buying an additional 14,521 shares during the last quarter. 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.