Esquire Financial (NASDAQ:ESQ) Sets New 1-Year High – Here’s Why

Esquire Financial Holdings, Inc. (NASDAQ:ESQ)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $78.93 and last traded at $78.93, with a volume of 2998 shares traded. The stock had previously closed at $76.50.

Wall Street Analysts Forecast Growth

ESQ has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut Esquire Financial from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $68.00 to $72.00 in a research report on Wednesday, October 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price (up previously from $72.00) on shares of Esquire Financial in a research report on Friday, October 25th.

Esquire Financial Stock Up 1.7 %

The stock has a market cap of $647.30 million, a price-to-earnings ratio of 15.39 and a beta of 0.70. The business has a 50-day moving average of $66.59 and a 200-day moving average of $57.53.

Esquire Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a yield of 0.77%. Esquire Financial’s payout ratio is 12.07%.

Institutional Trading of Esquire Financial

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Esquire Financial by 0.3% during 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. Grandeur Peak Global Advisors LLC raised its holdings in Esquire Financial by 50.0% during the first 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. Cetera Advisors LLC bought a new position in Esquire Financial during the first quarter valued at about $420,000. Assenagon Asset Management S.A. bought a new position in Esquire Financial during the second quarter valued at about $954,000. Finally, Bank of New York Mellon Corp raised its holdings in Esquire Financial by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 45,589 shares of the company’s stock valued at $2,170,000 after buying an additional 4,686 shares in the last quarter. 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.