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

Esquire Financial (NASDAQ:ESQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $29.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 6.74% from the stock’s current price.

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 NASDAQ ESQ opened at $27.17 on Wednesday. Esquire Financial has a 1-year low of $14.00 and a 1-year high of $27.88. The business has a 50-day moving average of $25.64 and a 200-day moving average of $24.43. The company has a market capitalization of $212.77 million, a price-to-earnings ratio of 13.00 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 EPS for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts expect that Esquire Financial will post 2.38 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in ESQ. BNP Paribas Arbitrage SA raised its position in shares of 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 purchasing an additional 1,113 shares during the period. Royal Bank of Canada raised its position in shares of 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 purchasing an additional 1,958 shares during the period. Rhumbline Advisers acquired a new stake in Esquire Financial in the 1st quarter valued at approximately $215,000. Tibra Equities Europe Ltd acquired a new stake in Esquire Financial in the 2nd quarter valued at approximately $239,000. Finally, Barclays PLC increased its position in 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 acquiring an additional 3,550 shares during the period. 44.32% of the stock is currently owned by institutional investors.

About Esquire Financial

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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