Equity Bancshares (NASDAQ:EQBK) Price Target Cut to $46.00 by Analysts at DA Davidson

Equity Bancshares (NASDAQ:EQBK) had its price target cut by DA Davidson from $50.00 to $46.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Other analysts also recently issued reports about the company. Stephens upgraded Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 target price for the company in a research note on Monday, October 14th. Hovde Group raised their price objective on Equity Bancshares from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods upped their target price on Equity Bancshares from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Equity Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $47.40.

Equity Bancshares Trading Up 1.7 %

NASDAQ:EQBK opened at $43.31 on Thursday. Equity Bancshares has a 12 month low of $30.44 and a 12 month high of $50.85. 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 market capitalization of $662.24 million, a price-to-earnings ratio of 39.37 and a beta of 0.92. The firm has a fifty day simple moving average of $44.81 and a two-hundred day simple moving average of $41.97.

Equity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.15 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.39%. Equity Bancshares’s dividend payout ratio is presently 54.55%.

Institutional Investors Weigh In On Equity Bancshares

Institutional investors have recently bought and sold shares of the stock. Mendon Capital Advisors Corp boosted its holdings in Equity Bancshares by 2,539.9% during the 2nd quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock worth $12,320,000 after acquiring an additional 336,742 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Equity Bancshares by 175.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 112,292 shares of the bank’s stock valued at $4,590,000 after purchasing an additional 71,547 shares in the last quarter. Wellington Management Group LLP purchased a new position in Equity Bancshares during the third quarter worth about $2,809,000. JPMorgan Chase & Co. grew its position in Equity Bancshares by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 360,457 shares of the bank’s stock worth $14,735,000 after purchasing an additional 17,431 shares in the last quarter. Finally, Barclays PLC increased its stake in Equity Bancshares by 247.2% in the 3rd quarter. Barclays PLC now owns 23,308 shares of the bank’s stock valued at $953,000 after buying an additional 16,595 shares during the last quarter. Institutional investors own 71.80% of the company’s stock.

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.