Esquire Financial (NASDAQ:ESQ) Downgraded to “Hold” at Zacks Investment Research

Esquire Financial (NASDAQ:ESQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

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. “

NASDAQ:ESQ traded up $0.69 during mid-day trading on Monday, reaching $27.84. 25,100 shares of the company’s stock traded hands, compared to its average volume of 27,428. Esquire Financial has a 12-month low of $14.00 and a 12-month high of $27.97. The firm has a market capitalization of $218.02 million, a price-to-earnings ratio of 13.32 and a beta of 1.17. The company has a 50 day moving average price of $25.81 and a 200-day moving average price of $24.44.

Esquire Financial (NASDAQ:ESQ) last announced its quarterly earnings results on Sunday, July 25th. The company reported $0.57 earnings per share (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 company had revenue of $16.13 million for the quarter, compared to the consensus estimate of $15.40 million. On average, research analysts expect that Esquire Financial will post 2.38 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of ESQ. Millennium Management LLC purchased a new position in shares of Esquire Financial during the 2nd quarter worth approximately $2,469,000. Uniplan Investment Counsel Inc. bought a new stake in shares of Esquire Financial in the 1st quarter worth approximately $2,202,000. Alliancebernstein L.P. bought a new stake in shares of Esquire Financial in the 2nd quarter worth approximately $2,090,000. Boothbay Fund Management LLC boosted its position in shares of Esquire Financial by 215.3% in the 2nd quarter. Boothbay Fund Management LLC now owns 83,611 shares of the company’s stock worth $1,982,000 after purchasing an additional 57,089 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC boosted its position in shares of Esquire Financial by 46.5% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 109,026 shares of the company’s stock worth $2,487,000 after purchasing an additional 34,607 shares in the last quarter. 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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