Esquire Financial (NASDAQ:ESQ) Trading Down 4.2% – Here’s What Happened

Esquire Financial Holdings, Inc. (NASDAQ:ESQ)’s stock price fell 4.2% during mid-day trading on Tuesday . The company traded as low as $63.10 and last traded at $63.10. 631 shares changed hands during trading, a decline of 98% from the average session volume of 33,410 shares. The stock had previously closed at $65.86.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ESQ. Keefe, Bruyette & Woods cut shares of Esquire Financial from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $68.00 to $72.00 in a report on Wednesday, October 2nd. Piper Sandler reissued an “overweight” rating and set a $75.00 target price (up from $72.00) on shares of Esquire Financial in a research report on Friday, October 25th.

Esquire Financial Trading Up 2.7 %

The firm’s 50 day moving average price is $63.03 and its two-hundred day moving average price is $55.05. The company has a market capitalization of $562.09 million, a P/E ratio of 13.25 and a beta of 0.70.

Esquire Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, November 15th. Esquire Financial’s dividend payout ratio (DPR) is currently 12.07%.

Institutional Investors Weigh In On Esquire Financial

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Esquire Financial during the first quarter worth approximately $42,000. GSA Capital Partners LLP increased its holdings in Esquire Financial by 10.6% in the 1st 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. Rosenthal Henry Capital Advisors Inc. acquired a new stake in shares of Esquire Financial in the 1st quarter valued at $1,899,000. Russell Investments Group Ltd. boosted its stake in Esquire Financial by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 60,745 shares of the company’s stock valued at $2,884,000 after buying an additional 2,581 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Esquire Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 368,375 shares of the company’s stock worth $17,487,000 after acquiring an additional 966 shares during the last quarter. 54.66% of the stock is currently owned by institutional investors and hedge funds.

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.