Esquire Financial (NASDAQ:ESQ) Sets New 52-Week High After Dividend Announcement

Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $90.18 and last traded at $89.51, with a volume of 31648 shares traded. The stock had previously closed at $87.42.

The newly announced dividend which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.175 dividend. This is an increase from Esquire Financial's previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, February 14th. Esquire Financial's dividend payout ratio is 11.63%.

Analysts Set New Price Targets

Several analysts recently commented on ESQ shares. Raymond James lowered shares of Esquire Financial from a "strong-buy" rating to a "market perform" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $85.00 price objective (up from $80.00) on shares of Esquire Financial in a report on Monday, January 27th. Finally, Piper Sandler boosted their price objective on Esquire Financial from $85.00 to $91.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th.

Esquire Financial Stock Performance

The firm's 50 day moving average price is $80.84 and its two-hundred day moving average price is $69.38. The firm has a market cap of $725.42 million, a PE ratio of 16.90 and a beta of 0.73.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.01). Esquire Financial had a net margin of 31.58% and a return on equity of 19.93%. On average, analysts forecast that Esquire Financial Holdings, Inc. will post 5.52 earnings per share for the current year.

Insider Transactions at Esquire Financial

In related news, Director Rena Nigam bought 640 shares of Esquire Financial stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average price of $77.50 per share, with a total value of $49,600.00. Following the purchase, the director now owns 1,867 shares in the company, valued at $144,692.50. This represents a 52.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Melohn sold 3,000 shares of Esquire Financial stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $79.15, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.90% of the company's stock.

Institutional Trading of Esquire Financial

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in shares of Esquire Financial by 36.6% during the third 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 last quarter. Quantbot Technologies LP acquired a new stake in shares of Esquire Financial during the 3rd quarter valued at $54,000. Copeland Capital Management LLC acquired a new position in shares of Esquire Financial in the third quarter worth about $64,000. FMR LLC boosted its position in Esquire Financial by 14.3% during the 3rd quarter. FMR LLC now owns 2,115 shares of the company's stock worth $138,000 after acquiring an additional 264 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Esquire Financial during the third quarter valued at $151,000. 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.