Frontier Wealth Management LLC Maintains Stake in Equity Bancshares, Inc. (EQBK)
Frontier Wealth Management LLC continued to hold its stake in shares of Equity Bancshares, Inc. (NASDAQ:EQBK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,000 shares of the bank’s stock at the close of the 2nd quarter. Frontier Wealth Management LLC owned 0.11% of Equity Bancshares worth $429,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. RMB Capital Management LLC increased its stake in shares of Equity Bancshares by 65.1% in the first quarter. RMB Capital Management LLC now owns 652,442 shares of the bank’s stock valued at $20,728,000 after purchasing an additional 257,175 shares during the period. Mendon Capital Advisors Corp increased its stake in shares of Equity Bancshares by 44.1% in the first quarter. Mendon Capital Advisors Corp now owns 446,480 shares of the bank’s stock valued at $14,185,000 after purchasing an additional 136,622 shares during the period. Vanguard Group Inc. increased its stake in shares of Equity Bancshares by 35.2% in the second quarter. Vanguard Group Inc. now owns 308,622 shares of the bank’s stock valued at $9,456,000 after purchasing an additional 80,285 shares during the period. Northpointe Capital LLC increased its stake in shares of Equity Bancshares by 31.9% in the second quarter. Northpointe Capital LLC now owns 265,455 shares of the bank’s stock valued at $8,134,000 after purchasing an additional 64,262 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Equity Bancshares by 73.8% in the second quarter. Northern Trust Corp now owns 114,210 shares of the bank’s stock valued at $3,499,000 after purchasing an additional 48,501 shares during the period. Institutional investors own 59.70% of the company’s stock.
EQBK has been the topic of several analyst reports. ValuEngine upgraded shares of Equity Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Sandler O’Neill initiated coverage on shares of Equity Bancshares in a research note on Wednesday, June 14th. They issued a “buy” rating on the stock. Finally, Cowen and Company initiated coverage on shares of Equity Bancshares in a research note on Wednesday, June 14th. They issued a “market perform” rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.33.
In other news, EVP Scott A. Smits purchased 1,640 shares of Equity Bancshares stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of $34.50 per share, for a total transaction of $56,580.00. Following the completion of the transaction, the executive vice president now directly owns 10,290 shares in the company, valued at $355,005. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brad S. Elliott sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $34.00, for a total transaction of $136,000.00. Following the completion of the transaction, the chief executive officer now owns 200,933 shares in the company, valued at $6,831,722. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,000 shares of company stock worth $816,000. Company insiders own 14.90% of the company’s stock.
Shares of Equity Bancshares, Inc. (NASDAQ EQBK) traded up 0.88% during midday trading on Friday, hitting $35.58. 74,242 shares of the company’s stock traded hands. The firm has a market capitalization of $434.29 million, a price-to-earnings ratio of 26.71 and a beta of 1.12. The company has a 50 day moving average price of $34.15 and a 200 day moving average price of $32.21. Equity Bancshares, Inc. has a 1-year low of $23.94 and a 1-year high of $38.03.
Equity Bancshares (NASDAQ:EQBK) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. The firm had revenue of $25.16 million for the quarter. Equity Bancshares had a net margin of 15.31% and a return on equity of 7.41%. Equities analysts anticipate that Equity Bancshares, Inc. will post $1.96 earnings per share for the current year.
Equity Bancshares Company Profile
Equity Bancshares, Inc is a bank holding company. The Company’s principal activity is the ownership and management of its subsidiary, Equity Bank (the Bank). The Bank provides a range of financial services primarily to businesses and business owners, as well as individuals through its network of over 30 branches located in Kansas and Missouri.
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