Equity Bancshares (NYSE:EQBK) Downgraded to “Hold” Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Equity Bancshares (NYSE:EQBK – Free Report) from a buy rating to a hold rating in a research note published on Sunday,Wall Street Zen reports.

Several other brokerages also recently commented on EQBK. Weiss Ratings upgraded Equity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Benchmark began coverage on shares of Equity Bancshares in a research note on Wednesday, June 24th. They issued a “buy” rating and a $57.00 price objective for the company. Hovde Group upped their price objective on shares of Equity Bancshares from $51.00 to $53.00 and gave the stock a “market perform” rating in a report on Friday, September 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Equity Bancshares in a report on Monday, June 22nd. Finally, Piper Sandler raised their target price on shares of Equity Bancshares from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.33.

Read Our Latest Stock Analysis on Equity Bancshares

Equity Bancshares Price Performance

NYSE EQBK opened at $49.92 on Friday. Equity Bancshares has a fifty-two week low of $38.60 and a fifty-two week high of $52.27. The stock’s 50-day moving average is $50.14 and its two-hundred day moving average is $47.28. 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 cap of $1.03 billion, a P/E ratio of 29.89 and a beta of 0.76.

Equity Bancshares (NYSE:EQBK – Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.17. Equity Bancshares had a return on equity of 13.34% and a net margin of 8.26%.The company had revenue of $81.93 million during the quarter, compared to the consensus estimate of $85.10 million. On average, analysts anticipate that Equity Bancshares will post 5.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Equity Bancshares news, COO Julie Huber sold 5,303 shares of Equity Bancshares stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $51.05, for a total value of $270,718.15. Following the transaction, the chief operating officer directly owned 62,009 shares of the company’s stock, valued at $3,165,559.45. The trade was a 7.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Donald Scott Rogerson purchased 2,000 shares of the business’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 acquisition, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 4,989 shares of company stock valued at $250,919 and sold 24,500 shares valued at $1,250,951. Company insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its position in shares of Equity Bancshares by 2.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,930,925 shares of the company’s stock valued at $86,216,000 after buying an additional 44,681 shares during the last quarter. FJ Capital Management LLC grew its position in Equity Bancshares by 8.6% during the third quarter. FJ Capital Management LLC now owns 1,222,791 shares of the company’s stock worth $49,768,000 after buying an additional 96,695 shares in the last quarter. Patriot Financial Partners GP II L.P. bought a new position in Equity Bancshares during the third quarter valued at about $49,541,000. California State Teachers Retirement System increased its stake in Equity Bancshares by 7,658.1% during the second quarter. California State Teachers Retirement System now owns 988,618 shares of the company’s stock valued at $48,432,000 after acquiring an additional 975,875 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Equity Bancshares by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 921,826 shares of the company’s stock valued at $37,518,000 after acquiring an additional 22,233 shares in the last quarter. Institutional investors own 71.80% of the company’s stock.

Equity Bancshares Company Profile

(Get Free Report)

Equity Bancshares, Inc is the bank holding company for Equity Bank, a community-focused financial institution headquartered in Wichita, Kansas. The company provides banking services to individuals, families, businesses, agricultural customers and government entities through its branch network and digital banking channels.

Equity Bank’s products and services include checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, commercial and industrial loans, commercial real estate financing, agricultural loans, treasury management and other business banking services.

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