Esquire Financial Holdings: Shares Are Becoming Difficult To Justify

2025-12-24 13:58:26 ET

In the past, I had been rather bullish about Esquire Financial Holdings, Inc. ( ESQ ). Back in June 2024, I rated the company a "Strong Buy." And from that point until I downgraded the company all the way to a "Hold" in September of this year, the stock had performed spectacularly, skyrocketing 114.1% while the S&P 500 was up only 19.8%. But such a massive amount of upside, especially for a bank, justified in my view a recalibration of expectations. Although the institution is growing nicely, valuation became problematic. Yes, asset quality was high enough to justify some sort of premium. At the end of the day, however, I felt that the premium in question became too high....

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