Selig Zises, a director at Esquire Financial Holdings, Inc. (NASDAQ:ESQ), recently disclosed the sale of 3,000 shares of the company's common stock. The transactions took place on November 29, 2024, with the shares sold at prices ranging from $76.49 to $76.80, totaling approximately $229,940. The sale comes as ESQ trades near its 52-week high of $80, having delivered an impressive 70% return over the past six months. According to InvestingPro analysis, the $618.4M market cap company currently trades at Fair Value and maintains a GREAT financial health score.
Following these transactions, Zises holds 59,601 shares indirectly through a profit-sharing plan. Additionally, he maintains other holdings in various forms, including 13,936 shares directly, 102,433 shares by trust, 25,500 shares as a trustee for a trust, and 12,600 shares by a limited partnership. Want deeper insights? InvestingPro subscribers have access to 12 additional investment tips and comprehensive financial metrics for ESQ.
In other recent news, Esquire Financial has been garnering attention from major analyst firms. Piper Sandler increased the price target for Esquire Financial Holdings to $75.00 from the previous $72.00, maintaining an Overweight rating on the stock. This adjustment was based on the company's high profitability and tangible book value per share (TBVPS) growth, as well as a unique business model focused on the litigation vertical.
On the other hand, Keefe, Bruyette & Woods (KBW) shifted its stance on Esquire Financial, downgrading from an Outperform rating to Market Perform, while raising its price target to $72.00. This change in rating is part of KBW's broader strategy in anticipation of lower interest rates. Despite the downgrade, KBW maintains a positive long-term view on Esquire Financial, acknowledging its distinctive operating model and dominant position in a specialized market.
Esquire Financial reported strong second-quarter operating earnings per share (EPS) of $1.25, surpassing both Piper Sandler and KBW's projections. The company's total deposit costs decreased by 9 basis points quarter-over-quarter, and escrow deposits from litigation customers rose by 9% on a last-quarter annualized basis. These recent developments reflect the ongoing positive momentum for Esquire Financial.
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