Equity Bancshares, Inc. (NYSE:EQBK – Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $51.60 and last traded at $51.2460, with a volume of 127480 shares trading hands. The stock had previously closed at $49.20.
Analysts Set New Price Targets
EQBK has been the subject of several research analyst reports. DA Davidson lifted their price objective on Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. Piper Sandler reiterated an “overweight” rating on shares of Equity Bancshares in a report on Monday, June 22nd. Hovde Group began coverage on shares of Equity Bancshares in a report on Wednesday, June 10th. They set a “market perform” rating and a $51.00 target price for the company. Stephens upped their price target on Equity Bancshares from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of Equity Bancshares in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equity Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.
Read Our Latest Stock Analysis on EQBK
Equity Bancshares Stock Up 4.9%
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, topping analysts’ consensus estimates of $1.24 by $0.17. The business had revenue of $81.93 million for the quarter, compared to analyst estimates of $85.10 million. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.67%. Equities research analysts expect that Equity Bancshares, Inc. will post 5.06 EPS for the current fiscal year.
Equity Bancshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Equity Bancshares’s payout ratio is currently 43.11%.
Insider Transactions at Equity Bancshares
In other news, Director Donald Scott Rogerson acquired 2,000 shares of Equity Bancshares stock in a transaction dated Wednesday, April 29th. The shares were acquired at an average cost of $45.93 per share, with a total value of $91,860.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $229,650. This trade represents a 66.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brett A. Reber sold 1,686 shares of the 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 sale, the general counsel directly owned 34,495 shares of the company’s stock, valued at $1,650,585.75. The trade was a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of EQBK. Patriot Financial Partners GP II L.P. bought a new position in shares of Equity Bancshares in the third quarter worth $49,541,000. FJ Capital Management LLC lifted its position in shares of Equity Bancshares by 8.6% in the 3rd quarter. FJ Capital Management LLC now owns 1,222,791 shares of the company’s stock valued at $49,768,000 after acquiring an additional 96,695 shares in the last quarter. Kennedy Capital Management LLC grew its stake in Equity Bancshares by 37.2% during the 4th quarter. Kennedy Capital Management LLC now owns 279,264 shares of the company’s stock valued at $12,469,000 after acquiring an additional 75,785 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Equity Bancshares in the third quarter worth $1,933,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of Equity Bancshares by 16,290.5% during the 4th quarter. Osaic Holdings Inc. now owns 46,713 shares of the company’s stock valued at $2,086,000 after buying an additional 46,428 shares during the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.
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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