Equity Bancshares, Inc. (EQBK) to Distribute Quarterly Dividend of $0.22 on October 15th

Equity Bancshares, Inc. (NYSE:EQBK) announced a quarterly dividend on Thursday, September 10th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.22 per share on Thursday, October 15th. This represents a $0.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 22.2% increase from Equity Bancshares’s previous quarterly dividend of $0.18.

Equity Bancshares has a payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Equity Bancshares to earn $5.51 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 16.0%.

Equity Bancshares Stock Performance

EQBK opened at $48.48 on Monday. The firm’s fifty day simple moving average is $50.13 and its two-hundred day simple moving average is $47.54. Equity Bancshares has a 52-week low of $38.60 and a 52-week high of $52.27. The company has a market cap of $998.12 million, a price-to-earnings ratio of 29.03 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58.

Equity Bancshares (NYSE:EQBK) last released its quarterly earnings results on Tuesday, July 14th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.17. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.34%. The firm had revenue of $81.93 million during the quarter, compared to the consensus estimate of $85.10 million. Equities analysts anticipate that Equity Bancshares will post 5.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler raised their price objective on Equity Bancshares from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, September 8th. DA Davidson raised their price target on shares of Equity Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Stephens upped their price objective on shares of Equity Bancshares from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Equity Bancshares in a report on Monday, June 22nd. Finally, Benchmark initiated coverage on Equity Bancshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $57.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.33.

About Equity Bancshares

Equity Bancshares, Inc is the bank holding company for Equity Bank, a community-focused financial institution headquartered in Wichita, Kansas. The company provides banking services to individuals, families, businesses, agricultural customers and government entities through its branch network and digital banking channels.

Equity Bank’s products and services include checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, commercial and industrial loans, commercial real estate financing, agricultural loans, treasury management and other business banking services.