Equity Bancshares (NASDAQ:EQBK) Price Target Raised to $38.00

Equity Bancshares (NASDAQ:EQBK) had its target price boosted by Piper Sandler from $37.00 to $38.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Equity Bancshares Stock Down 1.1 %

EQBK stock opened at $33.27 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $513.69 million, a PE ratio of 55.45 and a beta of 0.89. Equity Bancshares has a 1-year low of $20.50 and a 1-year high of $34.99. The business’s 50 day simple moving average is $32.57 and its 200 day simple moving average is $30.70.

Equity Bancshares (NASDAQ:EQBK) last posted its earnings results on Wednesday, January 24th. The bank reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12. The business had revenue of ($3.95) million for the quarter, compared to analyst estimates of $47.67 million. Equity Bancshares had a return on equity of 12.27% and a net margin of 3.88%. As a group, research analysts anticipate that Equity Bancshares will post 3.75 EPS for the current year.

Equity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Wednesday, March 27th. Equity Bancshares’s payout ratio is presently 80.00%.

Insider Buying and Selling

In related news, EVP Julie A. Huber sold 1,050 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $32.14, for a total value of $33,747.00. Following the completion of the sale, the executive vice president now directly owns 56,918 shares in the company, valued at approximately $1,829,344.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Julie A. Huber sold 1,050 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $32.14, for a total value of $33,747.00. Following the completion of the sale, the executive vice president now directly owns 56,918 shares in the company, valued at approximately $1,829,344.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brad S. Elliott sold 6,290 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $31.57, for a total value of $198,575.30. Following the completion of the sale, the chief executive officer now owns 152,088 shares of the company’s stock, valued at $4,801,418.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,478 shares of company stock valued at $268,894. 8.00% of the stock is owned by insiders.

Institutional Trading of Equity Bancshares

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Equity Bancshares by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 764,382 shares of the bank’s stock valued at $18,399,000 after acquiring an additional 9,639 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Equity Bancshares by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 754,999 shares of the bank’s stock valued at $25,595,000 after acquiring an additional 30,253 shares during the period. Mendon Capital Advisors Corp bought a new stake in shares of Equity Bancshares during the 4th quarter valued at $14,694,000. LSV Asset Management bought a new stake in shares of Equity Bancshares during the 4th quarter valued at $3,061,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Equity Bancshares by 18.5% during the 4th quarter. Russell Investments Group Ltd. now owns 59,154 shares of the bank’s stock valued at $2,005,000 after acquiring an additional 9,218 shares during the period. 71.80% of the stock is currently owned by institutional investors.

Equity Bancshares Company Profile

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.