Equity Bancshares (NYSE:EQBK) Upgraded to Hold at Hovde Group

Equity Bancshares (NYSE:EQBK) was upgraded by stock analysts at Hovde Group to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Piper Sandler boosted their target price on shares of Equity Bancshares from $57.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Weiss Ratings lowered shares of Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Finally, DA Davidson dropped their target price on shares of Equity Bancshares from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Equity Bancshares has a consensus rating of “Hold” and an average price target of $51.25.

Equity Bancshares Price Performance

NYSE EQBK opened at $47.89 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $988.35 million, a PE ratio of 38.00 and a beta of 0.78. The company has a 50 day moving average price of $45.62 and a two-hundred day moving average price of $45.50. Equity Bancshares has a 12-month low of $36.04 and a 12-month high of $50.07.

Equity Bancshares (NYSE:EQBK) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.17. The business had revenue of $83.26 million during the quarter, compared to the consensus estimate of $85.24 million. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%. As a group, equities analysts predict that Equity Bancshares will post 5.06 earnings per share for the current fiscal year.

Insider Activity at Equity Bancshares

In other news, Director Donald Scott Rogerson bought 2,000 shares of Equity Bancshares stock in a transaction dated Wednesday, April 29th. The shares were bought at an average price of $45.93 per share, for a total transaction of $91,860.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $229,650. This trade represents a 66.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Equity Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Equity Bancshares by 0.6% in the 1st quarter. First Trust Advisors LP now owns 48,621 shares of the company’s stock valued at $2,159,000 after purchasing an additional 300 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Equity Bancshares by 0.7% in the 4th quarter. Russell Investments Group Ltd. now owns 51,640 shares of the company’s stock valued at $2,306,000 after purchasing an additional 381 shares in the last quarter. Intech Investment Management LLC boosted its stake 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 purchasing an additional 388 shares in the last quarter. Mariner LLC boosted its stake in shares of Equity Bancshares by 5.4% in the 4th quarter. Mariner LLC now owns 9,516 shares of the company’s stock valued at $425,000 after purchasing an additional 486 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in Equity Bancshares by 282.0% during the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock worth $28,000 after buying an additional 502 shares in the last quarter. Institutional investors and hedge funds 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.