Equity Bancshares (NYSE:EQBK) Price Target Raised to $53.00

by · The Cerbat Gem

Equity Bancshares (NYSE:EQBK – Free Report) had its target price lifted by Hovde Group from $51.00 to $53.00 in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm currently has a market perform rating on the stock.

EQBK has been the topic of several other research reports. Royal Bank Of Canada restated a “buy” rating on shares of Equity Bancshares in a report on Monday, June 22nd. Stephens lifted their price objective on shares of Equity Bancshares from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. DA Davidson boosted their price objective on shares of Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. Weiss Ratings raised shares of Equity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Benchmark started coverage on shares of Equity Bancshares in a research note on Wednesday, June 24th. They set a “buy” rating and a $57.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Check Out Our Latest Analysis on Equity Bancshares

Equity Bancshares Trading Down 0.1%

EQBK opened at $50.90 on Friday. The firm has a market cap of $1.05 billion, a P/E ratio of 30.48 and a beta of 0.76. Equity Bancshares has a 12 month low of $38.60 and a 12 month high of $52.27. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $50.06 and a 200 day moving average of $47.13.

Equity Bancshares (NYSE:EQBK – Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.17. The company had revenue of $81.93 million for the quarter, compared to analysts’ expectations of $85.10 million. Equity Bancshares had a return on equity of 13.34% and a net margin of 8.26%. As a group, research analysts forecast that Equity Bancshares will post 5.18 EPS for the current year.

Insider Buying and Selling

In other Equity Bancshares news, General Counsel Brett Reber sold 1,686 shares of the stock in a transaction 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. This trade represents a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donald Scott Rogerson bought 2,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were acquired at an average price of $50.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director owned 10,103 shares of the company’s stock, valued at approximately $505,150. The trade was a 24.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 4,989 shares of company stock worth $250,919 and have sold 26,186 shares worth $1,331,626. Insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Equity Bancshares

Large investors have recently added to or reduced their stakes in the stock. HB Wealth Management LLC purchased a new position in shares of Equity Bancshares during the first quarter worth approximately $1,585,000. Kennedy Capital Management LLC boosted its holdings in shares of Equity Bancshares by 37.2% in the fourth quarter. Kennedy Capital Management LLC now owns 279,264 shares of the company’s stock valued at $12,469,000 after purchasing an additional 75,785 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Equity Bancshares by 310.3% in the first quarter. Hsbc Holdings PLC now owns 28,042 shares of the company’s stock valued at $1,245,000 after purchasing an additional 21,207 shares during the period. Bank of New York Mellon Corp bought a new position in Equity Bancshares in the second quarter worth approximately $3,967,000. Finally, WCG Wealth Advisors LLC bought a new position in Equity Bancshares in the fourth quarter worth approximately $777,000. 71.80% of the stock is owned by hedge funds and other institutional investors.

Equity Bancshares Company Profile

(Get Free Report)

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.

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