Esquire Financial (NASDAQ:ESQ) Hits New 52-Week High – Time to Buy?

Esquire Financial Holdings, Inc. (NASDAQ:ESQ) shares reached 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 traded. The stock had previously closed at $80.50.

Wall Street Analysts Forecast Growth

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

Esquire Financial Stock Performance

The company’s 50-day moving average is $76.67 and its 200 day moving average is $64.88. The company has a market capitalization of $650.70 million, a PE ratio of 15.73 and a beta of 0.73.

Esquire Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.77%. Esquire Financial’s dividend payout ratio (DPR) is currently 12.07%.

Insider Activity

In related news, Director Rena Nigam bought 640 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average price of $77.50 per share, for a total transaction of $49,600.00. Following the completion of the transaction, the director now owns 1,867 shares in the company, valued at $144,692.50. The trade was a 52.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Selig Zises sold 8,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $76.77, for a total transaction of $614,160.00. Following the transaction, the director now directly owns 62,601 shares of the company’s stock, valued at $4,805,878.77. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ESQ. Farther Finance Advisors LLC lifted its position in shares of Esquire Financial by 36.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 798 shares of the company’s stock worth $52,000 after purchasing an additional 214 shares during the period. Quantbot Technologies LP bought a new position in shares of Esquire Financial during the 3rd quarter worth approximately $54,000. Meeder Asset Management Inc. purchased a new stake in Esquire Financial during the second quarter valued at approximately $59,000. Copeland Capital Management LLC purchased a new stake in Esquire Financial during the third quarter valued at approximately $64,000. Finally, FMR LLC boosted its stake in Esquire Financial by 14.3% in the third quarter. FMR LLC now owns 2,115 shares of the company’s stock valued at $138,000 after acquiring an additional 264 shares in the last quarter. 54.66% of the stock is 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.