Equity Bancshares (NYSE:EQBK – Get Free Report) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.
Several other analysts have also recently commented on EQBK. Stephens raised their price target on shares of Equity Bancshares from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday. DA Davidson upped their price objective on shares of Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. Hovde Group assumed coverage on shares of Equity Bancshares in a research report on Wednesday, June 10th. They issued a “market perform” rating and a $51.00 target price for the company. Benchmark began coverage on shares of Equity Bancshares in a research note on Wednesday, June 24th. They set a “buy” rating and a $57.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating on shares of Equity Bancshares in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.17.
View Our Latest Research Report on EQBK
Equity Bancshares Stock Down 0.0%
Equity Bancshares (NYSE:EQBK – Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.17. The company had revenue of $81.93 million for the quarter, compared to analysts’ expectations of $85.10 million. Equity Bancshares had a return on equity of 13.67% and a net margin of 8.26%. As a group, analysts expect that Equity Bancshares will post 5.18 EPS for the current fiscal year.
Insider Activity at Equity Bancshares
In other Equity Bancshares news, Director Donald Scott Rogerson bought 2,000 shares of Equity Bancshares stock in a transaction on Wednesday, April 29th. The stock was purchased at an average cost of $45.93 per share, for a total transaction of $91,860.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $229,650. The trade was a 66.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brett A. Reber sold 1,686 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $47.85, for a total transaction of $80,675.10. Following the completion of the sale, the general counsel directly owned 34,495 shares of the company’s stock, valued at $1,650,585.75. This represents a 4.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of EQBK. Cubist Systematic Strategies LLC acquired a new stake in shares of Equity Bancshares in the 1st quarter valued at $145,000. AQR Capital Management LLC increased its position in Equity Bancshares by 334.7% during the first quarter. AQR Capital Management LLC now owns 48,038 shares of the company’s stock worth $1,893,000 after buying an additional 36,987 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Equity Bancshares by 18.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,679 shares of the company’s stock valued at $381,000 after buying an additional 1,521 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Equity Bancshares by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 90,037 shares of the company’s stock valued at $3,547,000 after buying an additional 17,196 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Equity Bancshares by 5.4% during the first quarter. Empowered Funds LLC now owns 61,768 shares of the company’s stock valued at $2,434,000 after buying an additional 3,187 shares in the last quarter. Institutional investors own 71.80% of the company’s stock.
About Equity Bancshares
Equity Bancshares, Inc is the bank holding company for Equity Bank, a regional financial services provider headquartered in Wichita, Kansas. As a publicly traded company on the New York Stock Exchange under the ticker EQBK, Equity Bancshares operates a network of branches and lending offices across Kansas, Missouri, Oklahoma, Illinois and Colorado. Its geographic footprint spans both urban and rural markets, reflecting a focus on supporting small businesses, agricultural enterprises and individual consumers throughout the Midwest.
The company’s core business activities encompass a full spectrum of commercial and consumer banking services.
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