Esquire Financial falls after Raymond James downgrades to 'market perform'

Esquire Financial Holdings

24/01/2025 18:32

** Shares of community lender Esquire Financial  ESQ.O  fall
as much as 4.4%; last down 2.8% at $83.71
    ** Raymond James downgrades ESQ to "market perform" from
"strong buy" due to valuation following the sharp run-up in the
stock
    ** Brokerage says the valuation appears full, especially if
the Fed futures begin pricing in additional cuts, which would be
a headwind to ESQ's earnings outlook      
    ** Adds that while it likes the ESQ business and story, it
views the risk-reward as balanced     
    ** One of three brokerages rate the stock "buy" and two
"hold"; with a median PT of $82.50, according to data compiled
by LSEG
    ** ESQ stock soared 59.1% in 2024


 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))