Brokerages Set Equity Bancshares, Inc. (NASDAQ:EQBK) PT at $48.40

Equity Bancshares, Inc. (NASDAQ:EQBK) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $48.40.

Several equities research analysts recently issued reports on the company. DA Davidson boosted their price objective on Equity Bancshares from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Equity Bancshares from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, September 4th.

Equity Bancshares Stock Performance

Shares of EQBK stock opened at $41.10 on Thursday. The firm’s 50 day moving average price is $40.01 and its 200-day moving average price is $39.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.86. Equity Bancshares has a one year low of $34.11 and a one year high of $50.85. The firm has a market cap of $789.78 million, a P/E ratio of 10.33 and a beta of 0.83.

Equity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.18 per share. This is an increase from Equity Bancshares’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Equity Bancshares’s dividend payout ratio is currently 17.87%.

Hedge Funds Weigh In On Equity Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. raised its holdings in Equity Bancshares by 282.0% in the second quarter. Osaic Holdings Inc. now owns 680 shares of the bank’s stock valued at $28,000 after acquiring an additional 502 shares in the last quarter. State of Wyoming purchased a new stake in shares of Equity Bancshares in the 2nd quarter valued at approximately $59,000. Tower Research Capital LLC TRC raised its holdings in shares of Equity Bancshares by 233.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,347 shares in the last quarter. State of Tennessee Department of Treasury purchased a new stake in shares of Equity Bancshares during the 2nd quarter worth $331,000. Finally, Voleon Capital Management LP purchased a new stake in shares of Equity Bancshares during the 2nd quarter worth $315,000. Hedge funds and other institutional investors own 71.80% of the company’s stock.

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.