Esquire Financial (NASDAQ:ESQ) Stock Rating Lowered by Keefe, Bruyette & Woods

Esquire Financial (NASDAQ:ESQ) was downgraded by stock analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, Marketbeat reports. They currently have a $72.00 price objective on the stock, up from their prior price objective of $68.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 17.40% from the stock’s current price.

Esquire Financial Stock Performance

Shares of Esquire Financial stock opened at $61.33 on Wednesday. The company’s fifty day moving average is $59.95 and its two-hundred day moving average is $52.10. Esquire Financial has a 1 year low of $43.24 and a 1 year high of $66.18. The company has a market capitalization of $508.61 million, a P/E ratio of 13.19 and a beta of 0.70.

Esquire Financial (NASDAQ:ESQ) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. The firm had revenue of $33.66 million during 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%. As a group, equities analysts expect that Esquire Financial will post 5.13 earnings per share for the current year.

Institutional Investors Weigh In On Esquire Financial

A number of hedge funds have recently added to or reduced their stakes in ESQ. GSA Capital Partners LLP boosted its position in shares of Esquire Financial by 10.6% during the 1st quarter. GSA Capital Partners LLP now owns 11,066 shares of the company’s stock worth $525,000 after purchasing an additional 1,065 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Esquire Financial during the second quarter worth about $954,000. Allspring Global Investments Holdings LLC purchased a new position in Esquire Financial in the first quarter valued at about $42,000. Cornercap Investment Counsel Inc. purchased a new position in Esquire Financial in the second quarter valued at about $570,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Esquire Financial by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 60,745 shares of the company’s stock valued at $2,884,000 after acquiring an additional 2,581 shares during the period. Institutional investors and hedge funds own 54.66% of the company’s stock.

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.