Horizon Investment Services LLC Sells 4,015 Shares of Esquire Financial Holdings, Inc. $ESQ

Horizon Investment Services LLC lessened its stake in Esquire Financial Holdings, Inc. (NASDAQ:ESQ) by 10.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,896 shares of the company’s stock after selling 4,015 shares during the quarter. Esquire Financial comprises approximately 1.4% of Horizon Investment Services LLC’s investment portfolio, making the stock its 27th biggest holding. Horizon Investment Services LLC’s holdings in Esquire Financial were worth $3,303,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new stake in shares of Esquire Financial in the first quarter valued at approximately $106,000. USA Financial Formulas boosted its position in Esquire Financial by 99.7% in the 2nd quarter. USA Financial Formulas now owns 1,338 shares of the company’s stock valued at $127,000 after buying an additional 668 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Esquire Financial in the 2nd quarter valued at $190,000. Bessemer Group Inc. bought a new stake in shares of Esquire Financial during the second quarter worth $221,000. Finally, Persistent Asset Partners Ltd raised its position in shares of Esquire Financial by 7.5% during the first quarter. Persistent Asset Partners Ltd now owns 3,008 shares of the company’s stock worth $227,000 after acquiring an additional 211 shares during the last quarter. 54.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ESQ has been the topic of several recent research reports. Wall Street Zen cut Esquire Financial from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings restated a “buy (b)” rating on shares of Esquire Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $110.00 target price (up previously from $102.00) on shares of Esquire Financial in a research note on Friday, July 25th. Finally, Piper Sandler boosted their price target on shares of Esquire Financial from $113.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.00.

Esquire Financial Trading Down 1.2%

ESQ opened at $95.61 on Friday. The stock has a market capitalization of $816.41 million, a P/E ratio of 16.77 and a beta of 0.53. Esquire Financial Holdings, Inc. has a 12 month low of $68.90 and a 12 month high of $107.25. The firm’s fifty day simple moving average is $99.89 and its 200 day simple moving average is $95.45.

Esquire Financial (NASDAQ:ESQ) last released its earnings results on Thursday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.01. The firm had revenue of $36.29 million during the quarter, compared to analysts’ expectations of $30.21 million. Esquire Financial had a return on equity of 19.08% and a net margin of 31.26%. On average, equities research analysts predict that Esquire Financial Holdings, Inc. will post 5.52 EPS for the current fiscal year.

Esquire Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.175 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.70 annualized dividend and a yield of 0.7%. Esquire Financial’s payout ratio is presently 12.28%.

Insider Activity at Esquire Financial

In related news, Director Joseph Melohn sold 11,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $99.90, for a total value of $1,098,900.00. Following the completion of the transaction, the director owned 137,857 shares of the company’s stock, valued at approximately $13,771,914.30. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Selig Zises sold 17,000 shares of Esquire Financial stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $99.71, for a total transaction of $1,695,070.00. Following the completion of the sale, the director owned 21,001 shares in the company, valued at $2,094,009.71. The trade was a 44.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,326 shares of company stock valued at $2,926,570 over the last ninety days. Company insiders own 18.00% of the company’s stock.

Esquire Financial Company 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.