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

Reuters
01-25
BUZZ-Esquire Financial falls after Raymond James downgrades to 'market perform'

** 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;))

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