Esquire Financial Holdings (NASDAQ:ESQ) stock observed trading -46.35% off 52-week high price. On the other end, the stock has been noted 43.12% away from low price over the last 52-weeks. The stock disclosed a move of -4.10% away from 50 day moving average and -23.45% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.71% off 20-day moving average. It has market cap of $124.62M.
On July 24, 2020, Esquire Financial Holdings (NASDAQ:ESQ) the holding company for Esquire Bank, National Association (Esquire Bank), disclosed its operating results for the second quarter of 2020. Results comparing the current quarter to the first quarter of 2020 (linked quarter) include:
- Net income was relatively unchanged at $2.5 million, or $0.33 per diluted share, on a linked quarter basis and decreased 27% when compared to net income of $3.5 million, or $0.45 per diluted share, for the quarter ended June 30, 2019. Due to the significant and ongoing uncertainty surrounding the pandemic and its protracted negative impact on the economy, the Company recorded an additional provision for loan losses of $1.5 million, or $0.15 per diluted share, in line with the first quarter of 2020 COVID-19 provision.
- Returns on average assets and common equity were 1.20% and 8.77%, respectively, for the current quarter, and 1.89% and 14.04%, respectively, for the quarter ended June 30, 2019. The current quarter and annual returns were significantly impacted by our COVID-19 provisioning in the first and second quarter of 2020 based on the ongoing economic uncertainty surrounding the pandemic.
- Deposits increased $27.1 million, or 15.5% annualized, to $724.9 million on a linked quarter basis, primarily driven by our low-cost litigation market customers, with a cost of funds of 0.16% (including demand deposits).
- Loans totaling $593.7 million were relatively unchanged on a linked quarter basis primarily due to $25.9 million in paydowns on our attorney lines-of-credit funded by ongoing legal settlements. Average quarter-to-date loans increased $34.6 million or 24.8% annualized on a linked quarter basis.
- The net interest margin declined 0.24% to 4.47% on a linked quarter basis primarily due to our excess interest earning cash balances coupled with the Federal Open Market Committee’s (FOMC) unprecedented reduction in short-term interest rates. The Company will continue to deploy its excess liquidity in higher yielding loans over the balance of 2020.
- Merchant services fee income was relatively unchanged at $2.9 million on a linked quarter basis despite significant processing volume declines in certain industry verticals including, but not limited to, restaurants, hospitality, travel and entertainment caused by the pandemic. Total fee income represented 24% of total revenue for the current quarter.
The USA based company Esquire Financial Holdings moved with change of -4.56% to $15.5 with the total traded volume of 2631 shares in recent session versus to an average volume of 34.73K shares. The stock was observed in the 5 days activity at 4.52%. The one month performance of stock was -4.79%. ESQ’s shares are at 3.40% for the quarter and driving a -35.42% return over the course of the past year and is now at -40.54% since this point in 2018.