Equity Bancshares (NASDAQ:EQBK) PT Raised to $45.00 at DA Davidson

Equity Bancshares (NASDAQ:EQBK) had its price target boosted by investment analysts at DA Davidson from $42.00 to $45.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. DA Davidson’s price objective would suggest a potential upside of 2.65% from the company’s previous close.

EQBK has been the subject of a number of other reports. Stephens raised Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price target for the company in a report on Monday. Keefe, Bruyette & Woods raised their target price on Equity Bancshares from $38.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

Equity Bancshares Stock Performance

Shares of EQBK traded down $0.50 during mid-day trading on Thursday, hitting $43.84. The stock had a trading volume of 34,557 shares, compared to its average volume of 47,628. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $668.69 million, a P/E 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 business has a fifty day moving average price of $39.84 and a 200-day moving average price of $36.57.

Equity Bancshares (NASDAQ:EQBK) last released its quarterly earnings data on Tuesday, July 16th. The bank reported $0.99 EPS for the quarter, beating the consensus estimate of $0.92 by $0.07. The business had revenue of $55.43 million for the quarter, compared to the consensus estimate of $54.56 million. Equity Bancshares had a net margin of 3.75% and a return on equity of 12.43%. On average, equities research analysts expect that Equity Bancshares will post 4.01 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Brad S. Elliott sold 2,300 shares of Equity Bancshares stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $42.64, for a total value of $98,072.00. Following the sale, the chief executive officer now owns 151,979 shares in the company, valued at $6,480,384.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Brad S. Elliott sold 2,300 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.64, for a total value of $98,072.00. Following the completion of the transaction, the chief executive officer now directly owns 151,979 shares of the company’s stock, valued at $6,480,384.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory L. Gaeddert sold 6,000 shares of Equity Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $40.99, for a total value of $245,940.00. Following the sale, the director now directly owns 17,167 shares in the company, valued at approximately $703,675.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,101 shares of company stock valued at $1,351,925 in the last quarter. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Equity Bancshares

A number of institutional investors have recently made changes to their positions in EQBK. Quadrature Capital Ltd purchased a new position in shares of Equity Bancshares in the fourth quarter worth $322,000. Denali Advisors LLC lifted its stake in Equity Bancshares by 112.5% during the 1st quarter. Denali Advisors LLC now owns 13,600 shares of the bank’s stock valued at $467,000 after acquiring an additional 7,200 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Equity Bancshares by 97.0% during the 1st quarter. BNP Paribas Financial Markets now owns 7,190 shares of the bank’s stock valued at $247,000 after acquiring an additional 3,541 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Equity Bancshares by 8.0% during the first quarter. Empowered Funds LLC now owns 75,240 shares of the bank’s stock valued at $2,586,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Foundry Partners LLC purchased a new position in shares of Equity Bancshares during the first quarter valued at approximately $364,000. Hedge funds and other 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.