Zises Selig, a director at Esquire Financial Holdings, Inc. (NASDAQ:ESQ), has reported selling a total of 2,000 shares of common stock in two separate transactions on December 17, 2024. The shares were sold at prices ranging from $78.0188 to $78.2531, amounting to a total value of $156,271. The transactions occurred as the stock trades near its 52-week high of $80.89, following an impressive 71.6% gain over the past six months. Following these transactions, Selig holds 57,601 shares indirectly through a profit-sharing plan. Additionally, Selig has direct ownership of 14,963 shares, which include restricted stock vesting in installments, and indirect holdings through various trusts and partnerships. With a market capitalization of $619 million, InvestingPro analysis suggests the stock is currently trading slightly above its Fair Value, with 12 additional real-time insights available to subscribers.
In other recent news, Esquire Financial Holdings demonstrated robust performance with a return on assets (ROA) of 2.62% in the third quarter, contributing to a 26% annualized growth in tangible book value per share (TBVPS). This performance has been attributed to Esquire Financial's unique business model, focusing on the litigation vertical. Piper Sandler, recognizing the company's high profitability, increased the price target for Esquire Financial to $75.00, maintaining an Overweight rating on the stock.
On the other hand, Keefe, Bruyette & Woods (KBW) adjusted its stance on Esquire Financial, downgrading from an Outperform rating to Market Perform, while raising its price target to $72.00. This decision was part of KBW's broader strategy anticipating lower interest rates and a fuller valuation of the company's stock. Despite the downgrade, KBW maintains a positive long-term view on Esquire Financial due to 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 highlight the ongoing positive momentum for Esquire Financial.
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