Equity Bancshares (NYSE:EQBK) Stock: Insider Leon Borck Acquires 380 Shares

Equity Bancshares, Inc. (NYSE:EQBK) Director Leon Borck purchased 380 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The shares were purchased at an average cost of $48.78 per share, for a total transaction of $18,536.40. Following the purchase, the director directly owned 96,320 shares in the company, valued at $4,698,489.60. This trade represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Equity Bancshares Stock Performance

Shares of EQBK stock opened at $48.00 on Wednesday. Equity Bancshares, Inc. has a 12 month low of $39.97 and a 12 month high of $52.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $988.32 million, a P/E ratio of 8.91 and a beta of 0.80. The company’s fifty day moving average price is $48.99 and its two-hundred day moving average price is $47.95.

Equity Bancshares (NYSE:EQBK) last announced its earnings results on Wednesday, October 14th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.11. Equity Bancshares had a return on equity of 13.73% and a net margin of 20.34%. The company had revenue of $83.73 million during the quarter, compared to the consensus estimate of $84.91 million. On average, research analysts anticipate that Equity Bancshares, Inc. will post 5.17 earnings per share for the current fiscal year.

Equity Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.22 dividend. This is an increase from Equity Bancshares’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, September 30th. Equity Bancshares’s dividend payout ratio (DPR) is currently 19.51%.

Wall Street Analyst Weigh In

Several research firms have issued reports on EQBK. DA Davidson set a $50.00 price objective on Equity Bancshares in a report on Friday. Weiss Ratings upgraded Equity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Equity Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 2nd. Hovde Group raised their price target on shares of Equity Bancshares from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Friday, September 4th. Finally, Piper Sandler raised their price target on shares of Equity Bancshares from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.67.

Hedge Funds Weigh In On Equity Bancshares

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in Equity Bancshares during the second quarter valued at approximately $3,967,000. HB Wealth Management LLC bought a new position in Equity Bancshares during the 1st quarter worth approximately $1,585,000. Hsbc Holdings PLC lifted its holdings in Equity Bancshares by 310.3% during the 1st quarter. Hsbc Holdings PLC now owns 28,042 shares of the company’s stock worth $1,245,000 after buying an additional 21,207 shares during the last quarter. Bank of America Corp DE lifted its holdings in Equity Bancshares by 98.7% during the 1st quarter. Bank of America Corp DE now owns 32,616 shares of the company’s stock worth $1,448,000 after buying an additional 16,200 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in shares of Equity Bancshares in the 2nd quarter worth approximately $227,000. 71.80% of the stock is currently owned by institutional investors and hedge funds.

About Equity Bancshares

Equity Bancshares, Inc is a bank holding company headquartered in Wichita, Kansas. Through its subsidiary, Equity Bank, the company provides community banking services to individuals, businesses, agricultural customers and public-sector organizations.

Equity Bank offers checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer financing, agricultural loans and commercial lines of credit. Its business banking services also include treasury management, cash management, electronic banking and other financial solutions designed to support operating and borrowing needs.

Founded in 2002, Equity Bancshares has expanded through organic growth and acquisitions.