Equity Bancshares (NASDAQ:EQBK) PT Raised to $38.00

Equity Bancshares (NASDAQ:EQBK) had its price target hoisted by Piper Sandler from $37.00 to $38.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

Equity Bancshares Stock Performance

Equity Bancshares stock opened at $33.89 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average of $32.57 and a 200-day moving average of $30.68. The firm has a market cap of $523.26 million, a P/E ratio of 56.48 and a beta of 0.89. Equity Bancshares has a 1-year low of $20.50 and a 1-year high of $34.99.

Equity Bancshares (NASDAQ:EQBK) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.65 by $0.12. Equity Bancshares had a net margin of 3.88% and a return on equity of 12.27%. The business had revenue of ($3.95) million during the quarter, compared to analyst estimates of $47.67 million. Sell-side analysts expect that Equity Bancshares will post 3.75 EPS for the current year.

Equity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.12 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.48 annualized dividend and a yield of 1.42%. Equity Bancshares’s dividend payout ratio (DPR) is presently 80.00%.

Insiders Place Their Bets

In other Equity Bancshares news, General Counsel Brett A. Reber sold 959 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.14, for a total value of $30,822.26. Following the completion of the sale, the general counsel now directly owns 29,147 shares in the company, valued at $936,784.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Brad S. Elliott sold 6,290 shares of Equity Bancshares stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $31.57, for a total transaction of $198,575.30. Following the completion of the transaction, the chief executive officer now directly owns 152,088 shares in the company, valued at $4,801,418.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brett A. Reber sold 959 shares of Equity Bancshares stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.14, for a total transaction of $30,822.26. Following the transaction, the general counsel now owns 29,147 shares of the company’s stock, valued at $936,784.58. The disclosure for this sale can be found here. Insiders sold 8,478 shares of company stock worth $268,894 over the last three months. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Equity Bancshares

Several large investors have recently made changes to their positions in EQBK. Rocky Mountain Advisers LLC purchased a new position in shares of Equity Bancshares during the fourth quarter valued at approximately $69,000. Tower Research Capital LLC TRC increased its position in shares of Equity Bancshares by 530.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,756 shares of the bank’s stock valued at $93,000 after acquiring an additional 2,319 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Equity Bancshares during the third quarter valued at approximately $123,000. SG Americas Securities LLC bought a new stake in shares of Equity Bancshares during the third quarter valued at approximately $164,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Equity Bancshares during the third quarter valued at approximately $202,000. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

Equity Bancshares Company Profile

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.