Equity Bancshares (EQBK) to Release Earnings on Tuesday

Equity Bancshares (NASDAQ:EQBK) will likely be releasing its results after the market closes on Tuesday, October 14th. Analysts expect Equity Bancshares to post earnings of $0.98 per share and revenue of $50.08 million for the quarter.

Equity Bancshares Stock Performance

Equity Bancshares stock opened at $40.53 on Monday. The firm’s 50 day simple moving average is $40.44 and its 200 day simple moving average is $39.65. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $778.94 million, a PE ratio of 10.18 and a beta of 0.82. Equity Bancshares has a 1-year low of $34.11 and a 1-year high of $50.85.

Equity Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.18 per share. This is a boost from Equity Bancshares’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.8%. Equity Bancshares’s payout ratio is currently 17.87%.

Hedge Funds Weigh In On Equity Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of EQBK. AQR Capital Management LLC boosted its stake in shares of Equity Bancshares by 334.7% in the 1st quarter. AQR Capital Management LLC now owns 48,038 shares of the bank’s stock valued at $1,893,000 after purchasing an additional 36,987 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Equity Bancshares by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 90,037 shares of the bank’s stock valued at $3,547,000 after purchasing an additional 17,196 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Equity Bancshares by 145.3% in the 2nd quarter. Jane Street Group LLC now owns 17,395 shares of the bank’s stock valued at $710,000 after purchasing an additional 10,303 shares in the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Equity Bancshares in the 2nd quarter valued at $346,000. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Equity Bancshares in the 2nd quarter valued at $331,000. Hedge funds and other institutional investors own 71.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EQBK. Piper Sandler began coverage on shares of Equity Bancshares in a report on Wednesday. They set an “overweight” rating and a $54.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Equity Bancshares from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, September 4th. Finally, DA Davidson boosted their price target on shares of Equity Bancshares from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.40.

About Equity Bancshares

Equity Bancshares, Inc operates as the bank holding company for Equity Bank that provides a range of banking, mortgage banking, and financial services to individual and corporate customers. The company accepts various demand, savings, money market, and time deposits. Its loan products include commercial and industrial, commercial real estate, commercial lines of credit, working capital, term, equipment and aircraft financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products.