Equity Bancshares (NASDAQ:EQBK) Sets New 12-Month High – Here’s Why

Equity Bancshares, Inc. (NASDAQ:EQBK) reached a new 52-week high on Wednesday . The stock traded as high as $48.17 and last traded at $48.44, with a volume of 11169 shares traded. The stock had previously closed at $46.49.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EQBK shares. Piper Sandler increased their price objective on shares of Equity Bancshares from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. DA Davidson reiterated a “neutral” rating and issued a $45.00 price target on shares of Equity Bancshares in a report on Thursday, October 16th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Equity Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Equity Bancshares Price Performance

The business’s 50-day simple moving average is $44.90 and its 200 day simple moving average is $42.08. 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 company has a market capitalization of $921.56 million, a P/E ratio of 12.08 and a beta of 0.87.

Equity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Wednesday, December 31st. Equity Bancshares’s payout ratio is presently 60.00%.

Hedge Funds Weigh In On Equity Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Patriot Financial Partners GP II L.P. acquired a new position in Equity Bancshares during the third quarter valued at $49,541,000. CSM Advisors LLC purchased a new stake in shares of Equity Bancshares in the second quarter worth approximately $4,713,000. Kennedy Capital Management LLC boosted its holdings in shares of Equity Bancshares by 96.2% during the second quarter. Kennedy Capital Management LLC now owns 213,333 shares of the bank’s stock worth $8,704,000 after purchasing an additional 104,613 shares during the period. FJ Capital Management LLC grew its position in Equity Bancshares by 8.6% during the third quarter. FJ Capital Management LLC now owns 1,222,791 shares of the bank’s stock valued at $49,768,000 after purchasing an additional 96,695 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Equity Bancshares by 110.7% in the 2nd quarter. American Century Companies Inc. now owns 144,982 shares of the bank’s stock valued at $5,915,000 after buying an additional 76,167 shares during the period. Institutional investors and hedge funds own 71.80% of the company’s stock.

Equity Bancshares Company Profile

Equity Bancshares, Inc is a bank holding company headquartered in Wichita, Kansas, operating through its wholly owned subsidiary Equity Bank. As a full-service commercial bank, it serves both individual and business clients with a range of deposit and lending solutions.

The company’s offerings include traditional checking, savings and money market accounts, alongside consumer and commercial lending products such as real estate, construction, equipment and agricultural loans. In addition, Equity Bancshares provides treasury management and payment processing services, as well as mortgage origination and servicing.