Esquire Financial (NASDAQ:ESQ) Hits New 12-Month High - Still a Buy?

Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $81.54 and last traded at $81.31, with a volume of 2828 shares trading hands. The stock had previously closed at $79.94.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted 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. 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 Stock Down 0.6 %

The stock has a market capitalization of $661.52 million, a price-to-earnings ratio of 16.00 and a beta of 0.74. The business's 50 day simple moving average is $74.40 and its 200-day simple moving average is $63.22.

Esquire Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $0.15 per share. The ex-dividend date was Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 0.75%. Esquire Financial's dividend payout ratio is currently 12.07%.

Insiders Place Their Bets

In related news, Director Joseph Melohn sold 3,000 shares of Esquire Financial 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 sale, the director now directly owns 3,683 shares of the company's stock, valued at approximately $291,509.45. The trade was a 44.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rena Nigam acquired 640 shares of the company's stock in a transaction that occurred 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 purchase, 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 disclosure for this purchase can be found here. Corporate insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Esquire Financial

Several large investors have recently modified their holdings of the business. American Century Companies Inc. raised its position in shares of Esquire Financial by 21.7% during the second quarter. American Century Companies Inc. now owns 122,222 shares of the company's stock worth $5,818,000 after acquiring an additional 21,833 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Esquire Financial in the 2nd quarter valued at $926,000. Dimensional Fund Advisors LP increased its position in shares of Esquire Financial by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 202,847 shares of the company's stock worth $9,655,000 after buying an additional 17,333 shares during the period. Assenagon Asset Management S.A. raised its stake in Esquire Financial by 79.8% during the third quarter. Assenagon Asset Management S.A. now owns 36,058 shares of the company's stock worth $2,351,000 after buying an additional 16,007 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Esquire Financial by 161.7% in the third quarter. JPMorgan Chase & Co. now owns 23,500 shares of the company's stock valued at $1,532,000 after buying an additional 14,521 shares during the period. Institutional investors own 54.66% of the company's stock.

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.