Esquire Financial (NASDAQ:ESQ) Sets New 1-Year High - What's Next?

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 company traded as high as $82.04 and last traded at $81.76, with a volume of 16723 shares trading hands. The stock had previously closed at $80.50.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective 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. Piper Sandler reiterated an "overweight" rating and issued a $75.00 price target (up previously from $72.00) on shares of Esquire Financial in a research note on Friday, October 25th.

Esquire Financial Trading Up 0.6 %

The stock has a fifty day simple moving average of $76.38 and a two-hundred day simple moving average of $64.76. The company has a market cap of $674.00 million, a PE ratio of 16.30 and a beta of 0.73.

Esquire Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.74%. Esquire Financial's dividend payout ratio (DPR) is presently 12.07%.

Insiders Place Their Bets

In other news, Director Selig Zises sold 8,000 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $76.77, for a total transaction of $614,160.00. Following the completion of the sale, the director now owns 62,601 shares in the company, valued at approximately $4,805,878.77. The trade was a 11.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $237,450.00. Following the completion of the transaction, the director now owns 3,683 shares in the company, valued at $291,509.45. The trade was a 44.89 % decrease in their position. The disclosure for this sale can be found here. 18.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of Esquire Financial by 161.7% during the third quarter. JPMorgan Chase & Co. now owns 23,500 shares of the company's stock worth $1,532,000 after purchasing an additional 14,521 shares in the last quarter. Franklin Resources Inc. acquired a new position in Esquire Financial in the 3rd quarter worth $252,000. Barclays PLC lifted its holdings in Esquire Financial by 322.6% in the 3rd quarter. Barclays PLC now owns 10,308 shares of the company's stock worth $672,000 after buying an additional 7,869 shares in the last quarter. Geode Capital Management LLC boosted its position in Esquire Financial by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 182,259 shares of the company's stock valued at $11,887,000 after buying an additional 6,025 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Esquire Financial by 8.5% during the third quarter. State Street Corp now owns 144,344 shares of the company's stock valued at $9,413,000 after acquiring an additional 11,345 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.