Equity Bancshares (NYSE:EQBK – Get Free Report) was upgraded by stock analysts at Benchmark to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.
EQBK has been the subject of several other reports. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Equity Bancshares in a research note on Monday. Royal Bank Of Canada reissued a “buy” rating on shares of Equity Bancshares in a research report on Monday. Hovde Group assumed coverage on shares of Equity Bancshares in a research report on Wednesday, June 10th. They set a “market perform” rating and a $51.00 price target on the stock. Piper Sandler reiterated an “overweight” rating on shares of Equity Bancshares in a research note on Monday. Finally, DA Davidson boosted their price objective on Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.20.
Read Our Latest Report on EQBK
Equity Bancshares Stock Performance
Equity Bancshares (NYSE:EQBK – Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.15 by $0.17. Equity Bancshares had a return on equity of 12.85% and a net margin of 6.15%.The business had revenue of $83.26 million for the quarter, compared to analysts’ expectations of $85.24 million. On average, research analysts expect that Equity Bancshares will post 5.06 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, General Counsel Brett A. Reber sold 1,686 shares of the company’s stock in a transaction 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 transaction, the general counsel directly owned 34,495 shares in the company, valued at $1,650,585.75. This represents a 4.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald Scott Rogerson acquired 2,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director owned 5,000 shares in the company, valued at approximately $229,650. This trade represents a 66.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 14.50% of the stock is owned by corporate insiders.
Institutional Trading of Equity Bancshares
A number of hedge funds and other institutional investors have recently made changes to their positions in EQBK. Osaic Holdings Inc. raised its holdings in Equity Bancshares by 282.0% during the second quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock worth $28,000 after purchasing an additional 502 shares in the last quarter. Royal Bank of Canada boosted its holdings in Equity Bancshares by 132.0% during the fourth quarter. Royal Bank of Canada now owns 972 shares of the company’s stock worth $44,000 after buying an additional 553 shares in the last quarter. State of Wyoming acquired a new position in Equity Bancshares in the second quarter worth approximately $59,000. Tower Research Capital LLC TRC increased its holdings in shares of Equity Bancshares by 233.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock valued at $79,000 after buying an additional 1,347 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Equity Bancshares by 33.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,189 shares of the company’s stock worth $89,000 after acquiring an additional 547 shares in the last quarter. 71.80% of the stock is currently owned by institutional investors.
Equity Bancshares Company Profile
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.
Read More
- Five stocks we like better than Equity Bancshares
- BlackBerry’s Rally Is Running on a Bigger AI Story Than Earnings Alone
- MDA Space Targets US Defense Market With $620M Acquisition
- Carnival’s Second Quarter: Is the Stock Still Complicated?
- Domino’s Stock Slides to 52-Week Low as Investors Digest CEO Change
Receive News & Ratings for Equity Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.
