Equity Bancshares, Inc. (NYSE:EQBK – Get Free Report) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 739,835 shares, a growth of 102.3% from the June 15th total of 365,748 shares. Based on an average trading volume of 203,247 shares, the days-to-cover ratio is presently 3.6 days. Currently, 4.2% of the company’s stock are sold short.
Insider Buying and Selling at Equity Bancshares
In other Equity Bancshares news, General Counsel Brett A. Reber sold 1,686 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were 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 of the company’s stock, valued at $1,650,585.75. This trade represents a 4.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald Scott Rogerson bought 2,000 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was bought at an average price of $45.93 per share, for a total transaction of $91,860.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $229,650. This represents a 66.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 14.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Equity Bancshares
Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in Equity Bancshares by 98.7% in the 1st quarter. Bank of America Corp DE now owns 32,616 shares of the company’s stock valued at $1,448,000 after purchasing an additional 16,200 shares during the last quarter. Empowered Funds LLC grew its position in Equity Bancshares by 8.4% in the 1st quarter. Empowered Funds LLC now owns 87,024 shares of the company’s stock worth $3,865,000 after purchasing an additional 6,707 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Equity Bancshares by 74.5% in the first quarter. Quantinno Capital Management LP now owns 15,444 shares of the company’s stock valued at $686,000 after purchasing an additional 6,593 shares during the period. Sei Investments Co. increased its stake in shares of Equity Bancshares by 38.1% in the first quarter. Sei Investments Co. now owns 17,531 shares of the company’s stock valued at $779,000 after purchasing an additional 4,836 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Equity Bancshares by 0.6% during the first quarter. First Trust Advisors LP now owns 48,621 shares of the company’s stock valued at $2,159,000 after buying an additional 300 shares during the last quarter. Institutional investors own 71.80% of the company’s stock.
Equity Bancshares Stock Performance
Equity Bancshares (NYSE:EQBK – Get Free Report) last announced its quarterly 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 analysts’ expectations of $85.10 million. Equity Bancshares had a return on equity of 13.67% and a net margin of 8.26%. Analysts anticipate that Equity Bancshares will post 5.06 earnings per share for the current year.
Equity Bancshares Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, June 30th. Equity Bancshares’s dividend payout ratio (DPR) is presently 43.11%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on EQBK shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Equity Bancshares in a report on Monday, June 22nd. Benchmark began coverage on Equity Bancshares in a report on Wednesday, June 24th. They issued a “buy” rating and a $57.00 price target for the company. Weiss Ratings cut Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. DA Davidson lifted their price objective on shares of Equity Bancshares from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. Finally, Stephens boosted their target price on shares of Equity Bancshares from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Equity Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $54.17.
Check Out Our Latest Research Report on Equity Bancshares
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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