AlphaQuest LLC Sells 1,255 Shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ)

AlphaQuest LLC cut its position in shares of Esquire Financial Holdings, Inc. (NASDAQ:ESQ) by 45.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,503 shares of the company’s stock after selling 1,255 shares during the period. AlphaQuest LLC’s holdings in Esquire Financial were worth $119,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wasatch Advisors LP boosted its stake in shares of Esquire Financial by 0.8% during the 3rd quarter. Wasatch Advisors LP now owns 566,001 shares of the company’s stock worth $36,909,000 after purchasing an additional 4,426 shares during the period. Ampfield Management L.P. boosted its stake in shares of Esquire Financial by 10.9% during the 4th quarter. Ampfield Management L.P. now owns 251,633 shares of the company’s stock worth $20,005,000 after purchasing an additional 24,773 shares during the period. Geode Capital Management LLC boosted its position in Esquire Financial by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 182,259 shares of the company’s stock valued at $11,887,000 after buying an additional 6,025 shares during the period. State Street Corp boosted its position in Esquire Financial by 8.5% in the 3rd quarter. State Street Corp now owns 144,344 shares of the company’s stock valued at $9,413,000 after buying an additional 11,345 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Esquire Financial by 161.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,500 shares of the company’s stock valued at $1,532,000 after buying an additional 14,521 shares during the period. 54.66% of the stock is owned by hedge funds and other institutional investors.

Esquire Financial Stock Performance

Shares of ESQ opened at $72.00 on Wednesday. The company has a 50 day moving average price of $80.97 and a 200-day moving average price of $73.91. Esquire Financial Holdings, Inc. has a fifty-two week low of $44.45 and a fifty-two week high of $90.18. The stock has a market capitalization of $599.11 million, a PE ratio of 13.95 and a beta of 0.78.

Esquire Financial (NASDAQ:ESQ) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.01). Esquire Financial had a return on equity of 19.93% and a net margin of 31.58%. Equities research analysts forecast that Esquire Financial Holdings, Inc. will post 5.52 EPS for the current year.

Esquire Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, February 14th. This is a boost from Esquire Financial’s previous quarterly dividend of $0.15. Esquire Financial’s dividend payout ratio is presently 13.57%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ESQ shares. Piper Sandler boosted their price objective on shares of Esquire Financial from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $85.00 price objective (up from $80.00) on shares of Esquire Financial in a research report on Monday, January 27th. Finally, Raymond James cut shares of Esquire Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, January 24th.

Insider Buying and Selling

In related news, Director Richard T. Powers sold 1,427 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.99, for a total transaction of $124,134.73. Following the completion of the transaction, the director now owns 58,997 shares in the company, valued at $5,132,149.03. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Selig Zises sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $77.59, for a total transaction of $1,551,800.00. Following the transaction, the director now owns 35,501 shares of the company’s stock, valued at approximately $2,754,522.59. This trade represents a 36.04 % decrease in their position. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by company insiders.

Esquire Financial 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 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.