Esquire Financial (NASDAQ:ESQ) Sets New 52-Week High - Here's Why

Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $83.24 and last traded at $83.22, with a volume of 8640 shares traded. The stock had previously closed at $80.24.

Wall Street Analysts Forecast Growth

ESQ has been the subject of several recent research reports. Piper Sandler reiterated an "overweight" rating and issued a $75.00 price target (up 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 company a "market perform" rating in a report on Wednesday, December 4th.

Esquire Financial Trading Up 3.7 %

The company's 50 day moving average is $77.41 and its 200-day moving average is $65.84. The stock has a market cap of $692.64 million, a PE ratio of 16.75 and a beta of 0.73.

Esquire Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, November 15th. Esquire Financial's dividend payout ratio (DPR) is 12.07%.

Insider Buying and Selling at Esquire Financial

In related news, Director Rena Nigam acquired 640 shares of the firm's stock in a transaction on Monday, December 9th. The stock was bought at an average cost of $77.50 per share, with a total value of $49,600.00. Following the acquisition, the director now directly owns 1,867 shares in the company, valued at approximately $144,692.50. The trade was a 52.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Melohn sold 3,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $79.15, for a total transaction of $237,450.00. Following the completion of the sale, the director now owns 3,683 shares in the company, 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. 18.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Esquire Financial

A number of institutional investors have recently made changes to their positions in ESQ. Farther Finance Advisors LLC boosted its holdings in Esquire Financial by 36.6% in 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 period. FMR LLC lifted its position in shares of Esquire Financial by 14.3% in the 3rd quarter. FMR LLC now owns 2,115 shares of the company's stock worth $138,000 after buying an additional 264 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Esquire Financial by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 11,236 shares of the company's stock valued at $535,000 after buying an additional 439 shares during the period. Rosenthal Henry Capital Advisors Inc. grew its position in shares of Esquire Financial by 2.0% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 40,800 shares of the company's stock valued at $2,661,000 after buying an additional 800 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Esquire Financial during the third quarter worth about $54,000. 54.66% of the stock is currently owned by 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.