DA Davidson Boosts Equity Bancshares (NASDAQ:EQBK) Price Target to $45.00

Equity Bancshares (NASDAQ:EQBK) had its price objective hoisted by analysts at DA Davidson from $42.00 to $45.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. DA Davidson’s target price points to a potential upside of 2.65% from the stock’s current price.

Several other brokerages have also recently weighed in on EQBK. Stephens upgraded shares of Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Monday. Keefe, Bruyette & Woods lifted their target price on Equity Bancshares from $38.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Equity Bancshares Stock Performance

NASDAQ:EQBK traded down $0.50 on Thursday, hitting $43.84. The stock had a trading volume of 34,557 shares, compared to its average volume of 47,628. The business’s 50-day simple moving average is $39.84 and its two-hundred day simple moving average is $36.57. The stock has a market cap of $668.69 million, a price-to-earnings ratio of 73.58 and a beta of 0.89. Equity Bancshares has a 52-week low of $22.78 and a 52-week high of $45.60. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.75.

Equity Bancshares (NASDAQ:EQBK) last posted its quarterly earnings data on Tuesday, July 16th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. Equity Bancshares had a net margin of 3.75% and a return on equity of 12.43%. The company had revenue of $55.43 million for the quarter, compared to the consensus estimate of $54.56 million. As a group, research analysts predict that Equity Bancshares will post 4.01 earnings per share for the current year.

Insider Activity

In other news, Director Leon Borck bought 1,467 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $38.77 per share, with a total value of $56,875.59. Following the acquisition, the director now owns 11,941 shares of the company’s stock, valued at approximately $462,952.57. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Leon Borck purchased 1,467 shares of Equity Bancshares stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $38.77 per share, for a total transaction of $56,875.59. Following the acquisition, the director now owns 11,941 shares in the company, valued at approximately $462,952.57. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brad S. Elliott sold 24,801 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $40.64, for a total transaction of $1,007,912.64. Following the transaction, the chief executive officer now directly owns 151,616 shares of the company’s stock, valued at $6,161,674.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,101 shares of company stock worth $1,351,925 in the last three months. Company insiders own 8.00% of the company’s stock.

Institutional Trading of Equity Bancshares

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Equity Bancshares by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 754,069 shares of the bank’s stock valued at $25,917,000 after acquiring an additional 10,868 shares during the last quarter. Mendon Capital Advisors Corp lifted its position in Equity Bancshares by 2,539.9% during the second quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock valued at $12,320,000 after purchasing an additional 336,742 shares during the last quarter. Foundry Partners LLC grew its stake in shares of Equity Bancshares by 890.4% in the 2nd quarter. Foundry Partners LLC now owns 104,985 shares of the bank’s stock worth $3,695,000 after buying an additional 94,385 shares in the last quarter. Creative Planning increased its holdings in shares of Equity Bancshares by 4.4% in the 3rd quarter. Creative Planning now owns 80,133 shares of the bank’s stock worth $3,276,000 after buying an additional 3,399 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Equity Bancshares by 5.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 79,831 shares of the bank’s stock valued at $2,810,000 after buying an additional 3,838 shares in 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.