** 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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