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Esquire Financial Holdings, Inc. (ESQ) Soars 5.3%: Is Further Upside Left in the Stock?
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Esquire Financial Holdings, Inc. (ESQ - Free Report) shares rallied 5.3% in the last trading session to close at $33.93. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.9% loss over the past four weeks.
Shares of Esquire Financial rallied for the second consecutive day. The performance of banks is expected to have improved in the second quarter given the higher interest rates and rise in demand for commercial loans. Investors are also bullish on the banking sector on expectations of the interest rate hikes this year. This possibly led to the optimistic stance by the investors, which drove ESQ stock higher.
This company is expected to post quarterly earnings of $0.71 per share in its upcoming report, which represents a year-over-year change of +24.6%. Revenues are expected to be $18.2 million, up 12.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Esquire Financial Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ESQ going forward to see if this recent jump can turn into more strength down the road.
Esquire Financial Holdings, Inc. is part of the Zacks Banks - Northeast industry. Byline Bancorp (BY - Free Report) , another stock in the same industry, closed the last trading session 0.2% lower at $23.93. BY has returned -3.6% in the past month.
Byline Bancorp's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. Compared to the company's year-ago EPS, this represents a change of -33.8%. Byline Bancorp currently boasts a Zacks Rank of #1 (Strong Buy).
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Esquire Financial Holdings, Inc. (ESQ) Soars 5.3%: Is Further Upside Left in the Stock?
Esquire Financial Holdings, Inc. (ESQ - Free Report) shares rallied 5.3% in the last trading session to close at $33.93. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.9% loss over the past four weeks.
Shares of Esquire Financial rallied for the second consecutive day. The performance of banks is expected to have improved in the second quarter given the higher interest rates and rise in demand for commercial loans. Investors are also bullish on the banking sector on expectations of the interest rate hikes this year. This possibly led to the optimistic stance by the investors, which drove ESQ stock higher.
This company is expected to post quarterly earnings of $0.71 per share in its upcoming report, which represents a year-over-year change of +24.6%. Revenues are expected to be $18.2 million, up 12.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Esquire Financial Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ESQ going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Esquire Financial Holdings, Inc. is part of the Zacks Banks - Northeast industry. Byline Bancorp (BY - Free Report) , another stock in the same industry, closed the last trading session 0.2% lower at $23.93. BY has returned -3.6% in the past month.
Byline Bancorp's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. Compared to the company's year-ago EPS, this represents a change of -33.8%. Byline Bancorp currently boasts a Zacks Rank of #1 (Strong Buy).