Equity Bancshares (NYSE:EQBK) Announces Quarterly Earnings Results

Equity Bancshares (NYSE:EQBK) posted its quarterly earnings data on Tuesday. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.17, FiscalAI reports. The business had revenue of $81.93 million for the quarter, compared to analysts’ expectations of $85.10 million. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%.

Equity Bancshares Stock Down 0.2%

Shares of NYSE:EQBK traded down $0.08 during trading hours on Tuesday, hitting $48.77. The company’s stock had a trading volume of 151,024 shares, compared to its average volume of 115,191. The firm’s fifty day moving average price is $46.87 and its 200 day moving average price is $45.98. Equity Bancshares has a 52 week low of $36.04 and a 52 week high of $51.48. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 38.71 and a beta of 0.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

Equity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. Equity Bancshares’s payout ratio is currently 57.14%.

Analysts Set New Price Targets

EQBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Equity Bancshares in a research report on Monday, June 22nd. Royal Bank Of Canada reiterated a “buy” rating on shares of Equity Bancshares in a report on Monday, June 22nd. Benchmark assumed coverage on Equity Bancshares in a research note on Wednesday, June 24th. They set a “buy” rating and a $57.00 price target for the company. DA Davidson boosted their price objective on Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Equity Bancshares in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.20.

Insider Buying and Selling

In other Equity Bancshares news, Director Donald Scott Rogerson acquired 2,000 shares of Equity Bancshares stock in a transaction that occurred on Wednesday, April 29th. The stock was bought at an average price of $45.93 per share, with a total value of $91,860.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $229,650. This represents a 66.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brett A. Reber sold 1,686 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $47.85, for a total value of $80,675.10. Following the sale, the general counsel owned 34,495 shares of the company’s stock, valued at approximately $1,650,585.75. This represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equity Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in shares of Equity Bancshares by 0.7% during the fourth quarter. Russell Investments Group Ltd. now owns 51,640 shares of the company’s stock valued at $2,306,000 after buying an additional 381 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Equity Bancshares by 5.6% in the 3rd quarter. Intech Investment Management LLC now owns 7,306 shares of the company’s stock valued at $297,000 after buying an additional 388 shares in the last quarter. Mariner LLC grew its position in shares of Equity Bancshares by 5.4% in the 4th quarter. Mariner LLC now owns 9,516 shares of the company’s stock worth $425,000 after buying an additional 486 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Equity Bancshares by 282.0% in the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock worth $28,000 after buying an additional 502 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Equity Bancshares by 33.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,189 shares of the company’s stock worth $89,000 after acquiring an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 71.80% of the company’s stock.

Equity Bancshares Company Profile

Equity Bancshares, Inc is the bank holding company for Equity Bank, a regional financial services provider headquartered in Wichita, Kansas. As a publicly traded company on the New York Stock Exchange under the ticker EQBK, Equity Bancshares operates a network of branches and lending offices across Kansas, Missouri, Oklahoma, Illinois and Colorado. Its geographic footprint spans both urban and rural markets, reflecting a focus on supporting small businesses, agricultural enterprises and individual consumers throughout the Midwest.

The company’s core business activities encompass a full spectrum of commercial and consumer banking services.