Piper Sandler Reaffirms Overweight Rating for Esquire Financial (NASDAQ:ESQ)

Piper Sandler reiterated their overweight rating on shares of Esquire Financial (NASDAQ:ESQ) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $75.00 target price on the stock, up from their previous target price of $72.00.

Separately, Keefe, Bruyette & Woods cut Esquire Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $68.00 to $72.00 in a report on Wednesday, October 2nd.

Esquire Financial Stock Down 1.7 %

NASDAQ:ESQ opened at $64.60 on Friday. The firm has a market capitalization of $536.83 million, a P/E ratio of 13.46 and a beta of 0.70. Esquire Financial has a 52 week low of $44.02 and a 52 week high of $67.78. The company has a fifty day moving average of $62.11 and a 200 day moving average of $54.14.

Esquire Financial (NASDAQ:ESQ) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. Esquire Financial had a net margin of 31.36% and a return on equity of 19.92%. The firm had revenue of $33.66 million during the quarter, compared to the consensus estimate of $29.99 million. As a group, analysts anticipate that Esquire Financial will post 5.14 EPS for the current year.

Hedge Funds Weigh In On Esquire Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Esquire Financial by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 368,375 shares of the company’s stock valued at $17,487,000 after acquiring an additional 966 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Esquire Financial by 9.3% in the 2nd 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 last quarter. American Century Companies Inc. grew its stake in shares of Esquire Financial by 21.7% in the 2nd quarter. American Century Companies Inc. now owns 122,222 shares of the company’s stock worth $5,818,000 after buying an additional 21,833 shares during the last quarter. Grandeur Peak Global Advisors LLC increased its position in Esquire Financial by 50.0% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 85,695 shares of the company’s stock valued at $4,068,000 after buying an additional 28,569 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Esquire Financial by 4.4% during the first quarter. Russell Investments Group Ltd. now owns 60,745 shares of the company’s stock valued at $2,884,000 after buying an additional 2,581 shares during the last quarter. Hedge funds and other institutional investors own 54.66% of the company’s stock.

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.