ValuEngine Lowers Esquire Financial (NASDAQ:ESQ) to Sell

ValuEngine cut shares of Esquire Financial (NASDAQ:ESQ) from a hold rating to a sell rating in a report issued on Thursday morning, ValuEngine reports.

Separately, TheStreet raised Esquire Financial from a c rating to a b- rating in a report on Wednesday, June 26th.

Shares of NASDAQ:ESQ traded down $1.16 during midday trading on Thursday, reaching $24.02. 9,181 shares of the company’s stock traded hands, compared to its average volume of 8,264. The company has a market capitalization of $189.67 million, a P/E ratio of 16.35 and a beta of 1.08. Esquire Financial has a one year low of $17.62 and a one year high of $26.64. The stock’s 50 day moving average price is $24.54.

Esquire Financial (NASDAQ:ESQ) last posted its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. Esquire Financial had a return on equity of 12.77% and a net margin of 25.84%. The company had revenue of $11.67 million for the quarter.

In related news, Director Kevin C. Waterhouse purchased 1,500 shares of Esquire Financial stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $25.41 per share, for a total transaction of $38,115.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Lacapria purchased 1,000 shares of Esquire Financial stock in a transaction on Wednesday, July 31st. The stock was bought at an average price of $25.97 per share, with a total value of $25,970.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 4,000 shares of company stock valued at $101,190. Company insiders own 21.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ESQ. BNP Paribas Arbitrage SA increased its position in Esquire Financial by 901.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,272 shares of the company’s stock worth $29,000 after buying an additional 1,145 shares in the last quarter. Bank of America Corp DE grew its position in shares of Esquire Financial by 54.8% during the fourth quarter. Bank of America Corp DE now owns 5,905 shares of the company’s stock worth $128,000 after purchasing an additional 2,090 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Esquire Financial by 14.6% during the fourth quarter. Geode Capital Management LLC now owns 32,037 shares of the company’s stock worth $695,000 after purchasing an additional 4,090 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Esquire Financial by 10.8% during the fourth quarter. Bank of New York Mellon Corp now owns 42,526 shares of the company’s stock worth $923,000 after purchasing an additional 4,139 shares in the last quarter. Finally, Granite Investment Partners LLC grew its position in shares of Esquire Financial by 86.7% during the first quarter. Granite Investment Partners LLC now owns 43,054 shares of the company’s stock worth $980,000 after purchasing an additional 19,996 shares in the last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.

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 and small business communities, 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.

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