Key Points
- Esquire Financial EVP Ari Kornhaber sold 20,000 shares at an average price of $128.15, generating approximately $2.56 million and reducing his direct ownership by 16.7%.
- The company’s third-quarter results exceeded expectations, with EPS of $2.12 versus the $1.89 consensus and revenue of $61.39 million compared with estimates of $59.93 million.
- Esquire Financial declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 0.6% yield; analysts maintained a broadly positive view, with a consensus rating of “Strong Buy.”
Esquire Financial Holdings, Inc. (NASDAQ:ESQ - Get Free Report) EVP Ari Kornhaber sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $128.15, for a total value of $2,563,000.00. Following the completion of the transaction, the executive vice president directly owned 99,792 shares in the company, valued at approximately $12,788,344.80. This trade represents a 16.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Esquire Financial Stock Performance
Esquire Financial stock opened at $124.96 on Friday. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 20.79 and a beta of 0.40. Esquire Financial Holdings, Inc. has a 52-week low of $92.10 and a 52-week high of $134.82. The stock's 50 day moving average price is $119.34 and its two-hundred day moving average price is $114.39.
Esquire Financial (NASDAQ:ESQ - Get Free Report) last issued its earnings results on Tuesday, October 27th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.89 by $0.23. Esquire Financial had a return on equity of 21.49% and a net margin of 26.92%. The company had revenue of $61.39 million during the quarter, compared to the consensus estimate of $59.93 million. On average, equities research analysts forecast that Esquire Financial Holdings, Inc. will post 7.49 EPS for the current year.
Esquire Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 13th. Esquire Financial's payout ratio is currently 13.31%.
Key Stories Impacting Esquire Financial
Here are the key news stories impacting Esquire Financial this week:
- Positive Sentiment: Zacks upgraded ESQ from “hold” to “strong-buy,” signaling improved confidence in the company’s near-term outlook and potentially attracting additional investor interest. Zacks upgrade report
- Positive Sentiment: Third-quarter earnings exceeded expectations: Esquire Financial reported adjusted EPS of $2.12, above the $1.89 consensus estimate, while revenue of $61.39 million also topped the $59.93 million forecast. The earnings beat and rising earnings estimates could support the stock’s recent strength. Third-quarter earnings report Rising earnings estimates analysis
- Positive Sentiment: Esquire Financial declared a quarterly dividend of $0.20 per share, payable December 1 to shareholders of record November 13. The $0.80 annualized payout provides a modest 0.6% yield and reinforces shareholder returns. Quarterly dividend announcement
- Negative Sentiment: Executive Vice President Ari Kornhaber sold 20,000 shares for approximately $2.56 million at an average price of $128.15, reducing his ownership by 16.7%. While insider sales can be made for personal or diversification reasons, the transaction may create a modest negative sentiment signal, particularly near the stock’s recent highs. SEC insider transaction filing
Institutional Trading of Esquire Financial
A number of institutional investors and hedge funds have recently modified their holdings of ESQ. Arizona State Retirement System raised its stake in shares of Esquire Financial by 4.3% during the second quarter. Arizona State Retirement System now owns 2,085 shares of the company's stock worth $248,000 after acquiring an additional 86 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Esquire Financial by 1.7% in the 2nd quarter. HighTower Advisors LLC now owns 13,216 shares of the company's stock valued at $1,574,000 after purchasing an additional 219 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Esquire Financial by 861.5% in the 3rd quarter. Sterling Capital Management LLC now owns 250 shares of the company's stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new stake in shares of Esquire Financial in the 3rd quarter valued at $29,000. Finally, Global Retirement Partners LLC bought a new position in shares of Esquire Financial during the 2nd quarter valued at $39,000. 54.66% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ESQ has been the subject of several recent research reports. Weiss Ratings upgraded Esquire Financial from a "buy (a-)" rating to a "buy (a)" rating in a report on Tuesday. Wall Street Zen raised shares of Esquire Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research upgraded shares of Esquire Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Esquire Financial in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Esquire Financial currently has an average rating of "Strong Buy" and a consensus price target of $122.50.
Check Out Our Latest Stock Report on ESQ
Esquire Financial Company Profile
(
Get Free Report)
Esquire Financial Holdings, Inc is the bank holding company for Esquire Bank, a federally chartered community bank headquartered in Jericho, New York. Esquire Bank primarily serves law firms, attorneys, and other professional-service businesses, as well as small and middle-market companies, entrepreneurs, and individuals.
The bank provides commercial banking products and services that include business checking and savings accounts, commercial loans, lines of credit, commercial real estate financing, construction lending, and small business lending.
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