Equity Bancshares, Inc. (NASDAQ:EQBK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Equity Bancshares, Inc. (NASDAQ:EQBK) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $50.40.

EQBK has been the subject of a number of research analyst reports. DA Davidson reissued a “neutral” rating and issued a $45.00 price target on shares of Equity Bancshares in a research report on Thursday, October 16th. Keefe, Bruyette & Woods upped their price objective on shares of Equity Bancshares from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, September 4th. Finally, Piper Sandler initiated coverage on shares of Equity Bancshares in a research report on Wednesday, October 8th. They issued an “overweight” rating and a $54.00 target price for the company.

Equity Bancshares Stock Up 0.5%

Shares of Equity Bancshares stock opened at $41.56 on Friday. Equity Bancshares has a 1 year low of $34.11 and a 1 year high of $50.85. The company has a market cap of $792.84 million, a P/E ratio of 10.44 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $41.07 and a 200 day moving average price of $40.39.

Equity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.18 per share. This is a positive change from Equity Bancshares’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, September 30th. Equity Bancshares’s dividend payout ratio is 60.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in shares of Equity Bancshares during the 3rd quarter worth about $28,000. Osaic Holdings Inc. increased its holdings in Equity Bancshares by 282.0% in the second quarter. Osaic Holdings Inc. now owns 680 shares of the bank’s stock worth $28,000 after buying an additional 502 shares during the last quarter. Bellwether Advisors LLC bought a new position in Equity Bancshares during the first quarter valued at approximately $39,000. State of Wyoming acquired a new stake in Equity Bancshares in the second quarter valued at approximately $59,000. Finally, Tower Research Capital LLC TRC lifted its stake in Equity Bancshares by 233.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the bank’s stock valued at $79,000 after acquiring an additional 1,347 shares during the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.

About Equity Bancshares

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.