Esquire Financial (NASDAQ:ESQ) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Esquire Financial (NASDAQ:ESQGet Rating) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $41.00 price objective on the stock.

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 $36.00 on Wednesday. Esquire Financial has a twelve month low of $22.60 and a twelve month high of $39.08. The stock’s 50 day moving average price is $33.47 and its 200-day moving average price is $33.26. The company has a market capitalization of $290.74 million, a PE ratio of 16.00 and a beta of 0.97.

Esquire Financial (NASDAQ:ESQGet Rating) last announced its earnings results on Monday, April 25th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Esquire Financial had a return on equity of 14.11% and a net margin of 27.34%. The firm had revenue of $17.29 million for the quarter, compared to the consensus estimate of $17.10 million. Research analysts expect that Esquire Financial will post 2.93 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its stake in Esquire Financial by 8.3% in the fourth quarter. State Street Corp now owns 18,169 shares of the company’s stock valued at $575,000 after purchasing an additional 1,400 shares during the last quarter. Dorsey Wright & Associates purchased a new position in Esquire Financial in the fourth quarter valued at approximately $54,000. JPMorgan Chase & Co. lifted its stake in Esquire Financial by 1,990.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,028 shares of the company’s stock valued at $64,000 after purchasing an additional 1,931 shares during the last quarter. Royal Bank of Canada lifted its stake in Esquire Financial by 36.1% in the second quarter. Royal Bank of Canada now owns 7,380 shares of the company’s stock valued at $175,000 after purchasing an additional 1,958 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its stake in Esquire Financial by 0.3% in the fourth quarter. Wasatch Advisors Inc. now owns 779,112 shares of the company’s stock valued at $24,636,000 after purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 50.56% of the company’s stock.

Esquire Financial Company Profile (Get Rating)

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.

Further Reading

Get a free copy of the Zacks research report on Esquire Financial (ESQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Esquire Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Esquire Financial and related companies with MarketBeat.com's FREE daily email newsletter.