Equity Bancshares (NYSE:EQBK) Announces Earnings Results

Equity Bancshares (NYSE:EQBK) announced its quarterly earnings results on Tuesday. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.17, FiscalAI reports. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%. The firm had revenue of $81.93 million for the quarter, compared to analysts’ expectations of $85.10 million.

Equity Bancshares Stock Down 0.2%

Shares of Equity Bancshares stock opened at $48.77 on Wednesday. The business has a 50-day moving average price of $46.92 and a 200 day moving average price of $46.00. Equity Bancshares has a fifty-two week low of $36.04 and a fifty-two week high of $51.48. The firm has a market cap of $1.01 billion, a P/E ratio of 38.71 and a beta of 0.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

Equity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Equity Bancshares’s payout ratio is currently 57.14%.

Insiders Place Their Bets

In other Equity Bancshares news, Director Donald Scott Rogerson acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was acquired at an average price of $45.93 per share, with a total value of $91,860.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $229,650. This represents a 66.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brett A. Reber sold 1,686 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $47.85, for a total value of $80,675.10. Following the sale, the general counsel owned 34,495 shares in the company, valued at $1,650,585.75. The trade was a 4.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Equity Bancshares

Several institutional investors have recently modified their holdings of EQBK. Osaic Holdings Inc. lifted its position in Equity Bancshares by 282.0% in the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock valued at $28,000 after purchasing an additional 502 shares during the last quarter. Royal Bank of Canada grew its position in Equity Bancshares by 132.0% in the 4th quarter. Royal Bank of Canada now owns 972 shares of the company’s stock worth $44,000 after purchasing an additional 553 shares during the last quarter. State of Wyoming bought a new stake in shares of Equity Bancshares during the second quarter valued at approximately $59,000. Tower Research Capital LLC TRC raised its holdings in shares of Equity Bancshares by 233.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock valued at $79,000 after buying an additional 1,347 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Equity Bancshares by 33.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,189 shares of the company’s stock worth $89,000 after acquiring an additional 547 shares during the period. Institutional investors own 71.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Benchmark initiated coverage on shares of Equity Bancshares in a research note on Wednesday, June 24th. They issued a “buy” rating and a $57.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Equity Bancshares in a research report on Monday, June 22nd. Piper Sandler reiterated an “overweight” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Hovde Group assumed coverage on shares of Equity Bancshares in a research report on Wednesday, June 10th. They set a “market perform” rating and a $51.00 target price on the stock. Finally, DA Davidson upped their target price on shares of Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.20.

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.