Esquire Financial (NASDAQ:ESQ) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Esquire Financial (NASDAQ:ESQ) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $29.00 price objective on the stock.

According to Zacks, “Esquire Financial Holdings, Inc. is a bank holding company. It provides banking products and services to law professionals, professional service firms, small to mid-sized businesses and individuals primarily in the United States. The company operates primarily in Garden City, New York; Palm Beach Gardens and Florida. Esquire Financial Holdings, Inc. is headquartered in Jericho, New York. “

Shares of Esquire Financial stock opened at $27.26 on Wednesday. The business has a 50-day moving average price of $25.58 and a two-hundred day moving average price of $24.41. Esquire Financial has a 1-year low of $14.00 and a 1-year high of $27.88. The company has a market cap of $213.47 million, a P/E ratio of 13.04 and a beta of 1.17.

Esquire Financial (NASDAQ:ESQ) last issued its quarterly earnings results on Sunday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. Esquire Financial had a return on equity of 12.63% and a net margin of 26.85%. The firm had revenue of $16.13 million during the quarter, compared to the consensus estimate of $15.40 million. Analysts forecast that Esquire Financial will post 2.38 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its holdings in Esquire Financial by 87.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,384 shares of the company’s stock worth $54,000 after acquiring an additional 1,113 shares during the period. Royal Bank of Canada grew its holdings in Esquire Financial by 36.1% during the 2nd quarter. Royal Bank of Canada now owns 7,380 shares of the company’s stock worth $175,000 after acquiring an additional 1,958 shares during the period. Rhumbline Advisers acquired a new stake in shares of Esquire Financial in the 1st quarter valued at about $215,000. Tibra Equities Europe Ltd acquired a new stake in shares of Esquire Financial in the 2nd quarter valued at about $239,000. Finally, Barclays PLC grew its stake in shares of Esquire Financial by 25.8% in the 1st quarter. Barclays PLC now owns 17,292 shares of the company’s stock valued at $395,000 after buying an additional 3,550 shares during the period. Hedge funds and other institutional investors own 44.32% of the company’s stock.

Esquire Financial Company Profile

Esquire Financial Holdings, Inc engages in the provision of banking and financial solutions. It offers commercial banking services, which serve the financial needs of the legal industry and small business communities, and commercial and retail customers in the New York metropolitan market. The company was founded by Dennis Shields in 2006 and is headquartered in Jericho, NY.

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