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

Piper Sandler restated their overweight rating on shares of Esquire Financial (NASDAQ:ESQ) in a research note issued to investors on Friday morning, Benzinga reports. Piper Sandler currently has a $75.00 price objective on the stock, up from their previous price objective of $72.00.

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

Esquire Financial Stock Performance

ESQ opened at $64.60 on Friday. The company’s 50-day simple moving average is $62.11 and its two-hundred day simple moving average is $54.14. The stock 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.

Esquire Financial (NASDAQ:ESQ) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $33.66 million during the quarter, compared to the consensus estimate of $29.99 million. Esquire Financial had a return on equity of 19.92% and a net margin of 31.36%. Research analysts forecast that Esquire Financial will post 5.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Esquire Financial

Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP grew its holdings in Esquire Financial by 10.6% during the 1st quarter. GSA Capital Partners LLP now owns 11,066 shares of the company’s stock valued at $525,000 after buying an additional 1,065 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Esquire Financial in the second quarter valued at $401,000. Assenagon Asset Management S.A. bought a new stake in Esquire Financial in the second quarter worth $954,000. Allspring Global Investments Holdings LLC purchased a new stake in Esquire Financial during the first quarter valued at $42,000. Finally, Cornercap Investment Counsel Inc. bought a new position in Esquire Financial during the second quarter valued at $570,000. 54.66% of the stock is owned by institutional investors.

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.