Esquire Financial (NASDAQ:ESQ) Trading Down 4.2% – What’s Next?

Shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ) dropped 4.2% during mid-day trading on Tuesday . The company traded as low as $63.10 and last traded at $63.10. Approximately 631 shares changed hands during trading, a decline of 98% from the average daily volume of 33,410 shares. The stock had previously closed at $65.86.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ESQ. Keefe, Bruyette & Woods downgraded 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. Piper Sandler restated an “overweight” rating and issued a $75.00 target price (up previously from $72.00) on shares of Esquire Financial in a research note on Friday, October 25th.

Esquire Financial Stock Performance

The firm has a market capitalization of $562.09 million, a PE ratio of 13.25 and a beta of 0.70. The company’s 50 day simple moving average is $63.03 and its 200-day simple moving average is $55.05.

Esquire Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, November 15th. Esquire Financial’s dividend payout ratio is currently 12.07%.

Hedge Funds Weigh In On Esquire Financial

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in Esquire Financial by 36.6% during the third quarter. Farther Finance Advisors LLC now owns 798 shares of the company’s stock valued at $52,000 after buying an additional 214 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Esquire Financial during the 1st quarter valued at about $42,000. Copeland Capital Management LLC bought a new stake in Esquire Financial in the third quarter valued at approximately $64,000. Meeder Asset Management Inc. purchased a new stake in shares of Esquire Financial during the second quarter valued at approximately $59,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Esquire Financial during the second quarter valued at approximately $91,000. Institutional investors 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.