Esquire Financial (NASDAQ:ESQ) Stock Rating Reaffirmed by Piper Sandler

Esquire Financial (NASDAQ:ESQ - Get Free Report)'s stock had its "overweight" rating restated by Piper Sandler in a research note issued on Friday, Benzinga reports. They presently have a $75.00 target price on the stock, up from their previous target price of $72.00. Piper Sandler's target price suggests a potential upside of 16.10% from the stock's previous close.

Separately, Keefe, Bruyette & Woods lowered Esquire Financial from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from $68.00 to $72.00 in a research report on Wednesday, October 2nd.

Esquire Financial Price Performance

Shares of NASDAQ ESQ traded down $1.14 during midday trading on Friday, hitting $64.60. 25,396 shares of the company's stock were exchanged, compared to its average volume of 33,989. Esquire Financial has a twelve month low of $44.02 and a twelve month high of $67.78. The company has a market cap of $535.73 million, a PE ratio of 14.17 and a beta of 0.70. The firm's fifty day simple moving average is $61.97 and its 200-day simple moving average is $53.92.

Esquire Financial (NASDAQ:ESQ - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The business had revenue of $33.66 million for the quarter, compared to analyst estimates of $29.99 million. Esquire Financial had a return on equity of 19.92% and a net margin of 31.36%. Equities analysts anticipate that Esquire Financial will post 5.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in shares of Esquire Financial by 1.2% in the first quarter. Acadian Asset Management LLC now owns 31,015 shares of the company's stock valued at $1,471,000 after buying an additional 355 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Esquire Financial by 4.1% in the second quarter. Rhumbline Advisers now owns 11,236 shares of the company's stock valued at $535,000 after buying an additional 439 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Esquire Financial in the first quarter valued at approximately $42,000. Vanguard Group Inc. boosted its stake in shares of Esquire Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 368,375 shares of the company's stock valued at $17,487,000 after buying an additional 966 shares in the last quarter. Finally, Copeland Capital Management LLC purchased a new stake in shares of Esquire Financial in the third quarter valued at approximately $64,000. Institutional investors and hedge funds 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.