Esquire Financial (NASDAQ:ESQ) Rating Lowered to “Sell” at Wall Street Zen

Esquire Financial (NASDAQ:ESQ) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts have also issued reports on ESQ. Keefe, Bruyette & Woods boosted their target price on shares of Esquire Financial from $115.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b+)” rating on shares of Esquire Financial in a research note on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Esquire Financial has an average rating of “Moderate Buy” and an average target price of $118.00.

Esquire Financial Price Performance

Shares of Esquire Financial stock opened at $100.98 on Friday. Esquire Financial has a 1 year low of $68.90 and a 1 year high of $134.82. The firm’s 50-day moving average is $107.56 and its 200 day moving average is $102.92. The stock has a market cap of $865.40 million, a price-to-earnings ratio of 17.17 and a beta of 0.47.

Esquire Financial (NASDAQ:ESQ) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). Esquire Financial had a return on equity of 18.72% and a net margin of 30.90%.The firm had revenue of $39.40 million during the quarter, compared to analysts’ expectations of $31.93 million. On average, equities analysts expect that Esquire Financial will post 5.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Esquire Financial

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Esquire Financial by 215.3% in the first quarter. Royal Bank of Canada now owns 81,087 shares of the company’s stock valued at $6,113,000 after acquiring an additional 55,367 shares in the last quarter. AQR Capital Management LLC raised its stake in Esquire Financial by 69.5% in the 1st quarter. AQR Capital Management LLC now owns 12,367 shares of the company’s stock valued at $932,000 after purchasing an additional 5,071 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Esquire Financial by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,178 shares of the company’s stock valued at $315,000 after purchasing an additional 156 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Esquire Financial in the 2nd quarter valued at $2,438,000. Finally, Bessemer Group Inc. acquired a new stake in Esquire Financial during the 2nd quarter worth $221,000. 54.66% of the stock is owned by hedge funds and other institutional investors.

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.