Zacks Research cut shares of Equity Bancshares (NYSE:EQBK – Free Report) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks reports.
Other analysts also recently issued research reports about the company. Weiss Ratings upgraded Equity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded Equity Bancshares from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. DA Davidson set a $50.00 price target on Equity Bancshares in a report on Friday, October 16th. Piper Sandler upped their price target on Equity Bancshares from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, October 16th. Finally, Stephens reduced their price objective on Equity Bancshares from $61.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.67.
Equity Bancshares Stock Performance
Shares of EQBK opened at $49.10 on Monday. The company has a market capitalization of $1.01 billion, a PE ratio of 10.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.93 and a quick ratio of 0.93. Equity Bancshares has a one year low of $40.00 and a one year high of $52.27. The company’s fifty day moving average price is $48.60 and its 200 day moving average price is $47.35.
Equity Bancshares (NYSE:EQBK – Get Free Report) last issued its quarterly earnings results on Wednesday, October 14th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.11. The company had revenue of $83.73 million for the quarter, compared to the consensus estimate of $84.91 million. Equity Bancshares had a return on equity of 13.73% and a net margin of 20.34%. As a group, analysts expect that Equity Bancshares will post 5.17 earnings per share for the current year.
Equity Bancshares Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.22 dividend. The ex-dividend date was Wednesday, September 30th. This is a boost from Equity Bancshares’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.8%. Equity Bancshares’s dividend payout ratio is 19.51%.
Insider Buying and Selling at Equity Bancshares
In other news, Director Donald Scott Rogerson bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average cost of $50.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director directly owned 10,103 shares in the company, valued at $505,150. This represents a 24.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.50% of the company’s stock.
Institutional Trading of Equity Bancshares
A number of hedge funds have recently modified their holdings of EQBK. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Equity Bancshares in the 3rd quarter valued at $222,000. Sequoia Financial Advisors LLC bought a new position in shares of Equity Bancshares during the 2nd quarter worth about $408,000. Engineers Gate Manager LP bought a new position in shares of Equity Bancshares during the 2nd quarter worth about $293,000. IFP Advisors Inc boosted its position in shares of Equity Bancshares by 38,500.0% during the 2nd quarter. IFP Advisors Inc now owns 1,544 shares of the company’s stock valued at $76,000 after acquiring an additional 1,540 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Equity Bancshares during the 2nd quarter valued at about $227,000. Institutional investors own 71.80% of the company’s stock.
About Equity Bancshares
Equity Bancshares, Inc is a financial holding company headquartered in Wichita, Kansas. Through its principal subsidiary, Equity Bank, the company provides banking services to businesses, agricultural operations, institutions and individual consumers.
Equity Bank’s products and services include commercial and agricultural lending, real estate financing, consumer loans, deposit accounts, treasury management, online and mobile banking, mortgage services and wealth management. The bank also provides cash-management and other financial solutions designed to support business and community banking customers.
Founded in 2002, Equity Bancshares has expanded through organic growth and the acquisition of community banks.
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