Basswood Capital Management L.L.C. Invests $44 Million in Esquire Financial Holdings, Inc. $ESQ

Basswood Capital Management L.L.C. acquired a new position in Esquire Financial Holdings, Inc. (NASDAQ:ESQ) during the 2nd quarter, HoldingsChannel reports. The fund acquired 369,416 shares of the company’s stock, valued at approximately $44,001,000. Esquire Financial accounts for about 1.8% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 17th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Esquire Financial during the 4th quarter worth $33,000. Caitong International Asset Management Co. Ltd lifted its holdings in Esquire Financial by 247.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 553 shares of the company’s stock worth $56,000 after buying an additional 394 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Esquire Financial by 64.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 690 shares of the company’s stock valued at $70,000 after buying an additional 270 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Esquire Financial by 352.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 810 shares of the company’s stock valued at $77,000 after buying an additional 631 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Esquire Financial in the 3rd quarter valued at about $93,000. 54.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Mitzman sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $129.60, for a total value of $388,800.00. Following the transaction, the director directly owned 139,679 shares of the company’s stock, valued at $18,102,398.40. The trade was a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.90% of the stock is owned by corporate insiders.

Esquire Financial Stock Down 0.2%

ESQ opened at $112.66 on Thursday. Esquire Financial Holdings, Inc. has a twelve month low of $92.10 and a twelve month high of $134.82. The company has a fifty day moving average of $121.80 and a 200-day moving average of $113.19. The stock has a market cap of $1.36 billion, a PE ratio of 18.59 and a beta of 0.38.

Esquire Financial (NASDAQ:ESQ) last released its earnings results on Thursday, July 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.04. The business had revenue of $42.13 million for the quarter, compared to analyst estimates of $41.59 million. Esquire Financial had a net margin of 29.30% and a return on equity of 18.22%. Sell-side analysts anticipate that Esquire Financial Holdings, Inc. will post 6.9 EPS for the current fiscal year.

Esquire Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Esquire Financial’s payout ratio is currently 13.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ESQ. Wall Street Zen upgraded Esquire Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Esquire Financial from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $120.33.

About Esquire Financial

Esquire Financial Holdings, Inc is a bank holding company whose principal subsidiary, Esquire Bank, specializes in residential mortgage lending and community banking services. Headquartered in Kansas City, Missouri, the company operates through multiple distribution channels, including retail branches, wholesale and correspondent lending divisions. Esquire Financial focuses on tailored home financing solutions while maintaining a community-oriented approach to banking.

In its mortgage lending business, Esquire Bank originates and services a range of home loan products, including government-insured mortgages (FHA, VA and USDA) as well as conventional conforming and jumbo loans.