Esquire Financial (NASDAQ:ESQ) Trading Down 3.5% Following Weak Earnings

Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report) shares dropped 3.5% on Friday following a dissappointing earnings announcement. The stock traded as low as $82.36 and last traded at $83.15. Approximately 19,290 shares changed hands during 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 (EPS) 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 announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 0.73%. Esquire Financial's dividend payout ratio (DPR) is presently 12.07%.

Wall Street Analysts Forecast Growth

ESQ has been the subject of several research analyst reports. Piper Sandler restated an "overweight" rating and set a $75.00 price target (up from $72.00) on shares of Esquire Financial in a research note on Friday, October 25th. 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, Raymond James lowered Esquire Financial from a "strong-buy" rating to a "market perform" rating in a research note on Friday.

Insider Activity at Esquire Financial

In related news, Director Rena Nigam acquired 640 shares of Esquire Financial stock in a transaction that occurred on Monday, December 9th. The stock was acquired at an average price of $77.50 per share, for a total transaction of $49,600.00. Following the transaction, the director now directly owns 1,867 shares of the company's stock, valued at $144,692.50. This trade represents a 52.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Melohn sold 3,000 shares of the business'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 transaction, the director now owns 3,683 shares of the company's stock, valued at $291,509.45. This represents a 44.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ESQ. Rhumbline Advisers boosted its position in Esquire Financial by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 11,236 shares of the company's stock worth $535,000 after acquiring an additional 439 shares during the period. Dimensional Fund Advisors LP boosted its position in Esquire Financial by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 202,847 shares of the company's stock worth $9,655,000 after acquiring an additional 17,333 shares during the period. Marshall Wace LLP acquired a new position in Esquire Financial during the 2nd quarter worth $926,000. Squarepoint Ops LLC lifted its holdings in shares of Esquire Financial by 102.5% in the second quarter. Squarepoint Ops LLC now owns 14,822 shares of the company's stock valued at $706,000 after buying an additional 7,502 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Esquire Financial in the second quarter valued at $401,000. Institutional investors and hedge funds own 54.66% of the company's stock.

Esquire Financial Price Performance

The firm has a market cap of $684.49 million, a price-to-earnings ratio of 16.55 and a beta of 0.73. The company has a fifty day moving average price of $79.17 and a two-hundred day moving average price of $67.48.

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.