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

Esquire Financial (NASDAQ:ESQ) was downgraded by stock analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. They presently have a $72.00 target price on the stock, up from their previous target price of $68.00. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 15.02% from the stock’s previous close.

Esquire Financial Stock Performance

ESQ stock opened at $62.60 on Wednesday. Esquire Financial has a one year low of $43.24 and a one year high of $66.18. The company has a 50 day moving average price of $59.88 and a two-hundred day moving average price of $52.04. The stock has a market capitalization of $519.14 million, a P/E ratio of 13.46 and a beta of 0.70.

Esquire Financial (NASDAQ:ESQ) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.21 by $0.04. Esquire Financial had a net margin of 31.36% and a return on equity of 19.92%. The firm had revenue of $33.66 million during the quarter, compared to analyst estimates of $29.99 million. Research analysts forecast that Esquire Financial will post 5.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Esquire Financial during the 1st quarter valued at approximately $42,000. Meeder Asset Management Inc. bought a new position in Esquire Financial during the 2nd quarter valued at $59,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Esquire Financial during the 2nd quarter worth $91,000. Sanctuary Advisors LLC bought a new stake in shares of Esquire Financial in the 2nd quarter worth about $401,000. Finally, Cetera Advisors LLC acquired a new stake in shares of Esquire Financial in the 1st quarter valued at about $420,000. 54.66% of the stock is currently owned by hedge funds and other institutional investors.

Esquire Financial Company Profile

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.