Esquire Financial (NASDAQ:ESQ) Stock Price Down 3.5% After Earnings Miss

Esquire Financial Holdings, Inc. (NASDAQ:ESQ) shares were down 3.5% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $82.36 and last traded at $83.15. Approximately 19,290 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 72,886 shares. The stock had previously closed at $86.12.

The company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.01). Esquire Financial had a net margin of 31.38% and a return on equity of 19.53%.

Esquire Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, November 15th. Esquire Financial’s payout ratio is currently 12.07%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ESQ shares. Raymond James cut shares of Esquire Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday. Keefe, Bruyette & Woods increased their target price on Esquire Financial from $72.00 to $80.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $75.00 target price (up from $72.00) on shares of Esquire Financial in a report on Friday, October 25th.

Insider Activity at Esquire Financial

In related news, Director Selig Zises sold 8,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $76.77, for a total value of $614,160.00. Following the completion of the transaction, the director now owns 62,601 shares of the company’s stock, valued at approximately $4,805,878.77. This represents a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph Melohn sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $79.15, for a total value of $237,450.00. Following the sale, the director now owns 3,683 shares of the company’s stock, valued at approximately $291,509.45. This trade represents a 44.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Esquire Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its holdings in Esquire Financial by 0.8% during the 3rd quarter. Wasatch Advisors LP now owns 566,001 shares of the company’s stock worth $36,909,000 after acquiring an additional 4,426 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Esquire Financial by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 202,847 shares of the company’s stock worth $9,655,000 after purchasing an additional 17,333 shares in the last quarter. Geode Capital Management LLC grew its stake in Esquire Financial by 3.4% in the third quarter. Geode Capital Management LLC now owns 182,259 shares of the company’s stock worth $11,887,000 after purchasing an additional 6,025 shares in the last quarter. State Street Corp increased its holdings in Esquire Financial by 8.5% in the third quarter. State Street Corp now owns 144,344 shares of the company’s stock valued at $9,413,000 after buying an additional 11,345 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. lifted its holdings in Esquire Financial by 2.0% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 40,800 shares of the company’s stock worth $2,661,000 after buying an additional 800 shares during the last quarter. 54.66% of the stock is owned by institutional investors and hedge funds.

Esquire Financial Stock Performance

The company has a market cap of $684.49 million, a P/E ratio of 16.55 and a beta of 0.73. The business has a fifty day simple moving average of $79.38 and a 200 day simple moving average of $67.73.

About Esquire Financial

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.