Esquire Financial (NASDAQ:ESQ) Lowered to “Market Perform” at Keefe, Bruyette & Woods

Esquire Financial (NASDAQ:ESQ) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a $72.00 price target on the stock, up from their previous price target of $68.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 17.40% from the stock’s current price.

Esquire Financial Price Performance

Shares of NASDAQ ESQ opened at $61.33 on Wednesday. The firm’s 50-day moving average is $59.95 and its two-hundred day moving average is $52.10. The company has a market capitalization of $508.61 million, a PE ratio of 13.19 and a beta of 0.70. Esquire Financial has a 12-month low of $43.24 and a 12-month high of $66.18.

Esquire Financial (NASDAQ:ESQ) last announced its earnings results on Thursday, July 25th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Esquire Financial had a return on equity of 19.92% and a net margin of 31.36%. The firm had revenue of $33.66 million for the quarter, compared to analysts’ expectations of $29.99 million. On average, analysts forecast that Esquire Financial will post 5.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Esquire Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Esquire Financial during the first quarter worth approximately $42,000. Meeder Asset Management Inc. purchased a new position in shares of Esquire Financial during the 2nd quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Esquire Financial during the second quarter worth $91,000. SG Americas Securities LLC purchased a new stake in shares of Esquire Financial in the third quarter valued at $151,000. Finally, Sanctuary Advisors LLC acquired a new position in Esquire Financial in the second quarter valued at $401,000. 54.66% of the stock is currently owned by hedge funds and other institutional investors.

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.