Equity Bancshares (NYSE:EQBK) Price Target Raised to $51.00 at DA Davidson

Equity Bancshares (NYSE:EQBK) had its price target hoisted by analysts at DA Davidson from $47.00 to $51.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective points to a potential upside of 8.63% from the company’s previous close.

A number of other analysts have also recently issued reports on EQBK. Hovde Group began coverage on Equity Bancshares in a research note on Wednesday, June 10th. They set a “market perform” rating and a $51.00 target price for the company. Piper Sandler lifted their price target on shares of Equity Bancshares from $57.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings cut shares of Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.25.

Equity Bancshares Trading Up 0.8%

EQBK stock traded up $0.35 during midday trading on Monday, hitting $46.95. 2,987 shares of the company’s stock were exchanged, compared to its average volume of 104,529. Equity Bancshares has a one year low of $36.04 and a one year high of $50.07. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $969.05 million, a PE ratio of 37.26 and a beta of 0.78. The stock’s fifty day moving average price is $45.92 and its 200-day moving average price is $45.69.

Equity Bancshares (NYSE:EQBK) last announced its quarterly earnings results 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 company had revenue of $83.26 million during the quarter, compared to the consensus estimate of $85.24 million. Equity Bancshares had a return on equity of 12.85% and a net margin of 6.15%. Research analysts predict that Equity Bancshares will post 5.06 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Equity Bancshares

A number of large investors have recently modified their holdings of the business. Osaic Holdings Inc. increased its position in shares of Equity Bancshares by 282.0% in the second quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock valued at $28,000 after acquiring an additional 502 shares during the last quarter. Royal Bank of Canada boosted its position in Equity Bancshares by 132.0% during the fourth quarter. Royal Bank of Canada now owns 972 shares of the company’s stock valued at $44,000 after purchasing an additional 553 shares during the last quarter. State of Wyoming acquired a new position in Equity Bancshares during the second quarter valued at approximately $59,000. Tower Research Capital LLC TRC grew its stake in Equity Bancshares by 233.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock valued at $79,000 after purchasing an additional 1,347 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Equity Bancshares by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 2,189 shares of the company’s stock valued at $89,000 after purchasing an additional 547 shares in the last quarter. 71.80% of the stock is currently owned by institutional investors and hedge funds.

About Equity Bancshares

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.