Garrison Financial Corp Acquires Shares of 14,340 Equity Bancshares, Inc. (NASDAQ:EQBK)
Garrison Financial Corp acquired a new position in shares of Equity Bancshares, Inc. (NASDAQ:EQBK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,340 shares of the bank’s stock, valued at approximately $439,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. V Wealth Management LLC bought a new position in shares of Equity Bancshares during the second quarter worth $120,000. Nationwide Fund Advisors increased its position in shares of Equity Bancshares by 31.0% in the first quarter. Nationwide Fund Advisors now owns 4,157 shares of the bank’s stock worth $132,000 after buying an additional 984 shares during the last quarter. American International Group Inc. increased its position in shares of Equity Bancshares by 44.9% in the first quarter. American International Group Inc. now owns 4,202 shares of the bank’s stock worth $133,000 after buying an additional 1,302 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of Equity Bancshares during the first quarter worth $164,000. Finally, Wells Fargo & Company MN increased its position in shares of Equity Bancshares by 93.4% in the first quarter. Wells Fargo & Company MN now owns 5,672 shares of the bank’s stock worth $180,000 after buying an additional 2,739 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.
Equity Bancshares, Inc. (NASDAQ EQBK) opened at 34.24 on Friday. The company has a 50 day moving average price of $33.15 and a 200-day moving average price of $32.09. The company has a market capitalization of $417.93 million, a P/E ratio of 25.71 and a beta of 1.11. Equity Bancshares, Inc. has a 52 week low of $23.07 and a 52 week high of $38.03.
Equity Bancshares (NASDAQ:EQBK) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Equity Bancshares had a return on equity of 7.41% and a net margin of 15.31%. The firm had revenue of $25.16 million during the quarter. On average, equities analysts anticipate that Equity Bancshares, Inc. will post $1.98 earnings per share for the current fiscal year.
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A number of brokerages recently weighed in on EQBK. ValuEngine downgraded Equity Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. FBR & Co reissued a “buy” rating and issued a $40.00 price objective on shares of Equity Bancshares in a research note on Friday, April 21st. Sandler O’Neill began coverage on Equity Bancshares in a research note on Wednesday, June 14th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $37.00 price objective on shares of Equity Bancshares in a research note on Wednesday, May 24th. Finally, Cowen and Company began coverage on Equity Bancshares in a research note on Wednesday, June 14th. They issued a “market perform” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $30.33.
In other Equity Bancshares news, EVP Scott A. Smits acquired 4,500 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of $30.47 per share, for a total transaction of $137,115.00. Following the completion of the purchase, the executive vice president now directly owns 9,500 shares of the company’s stock, valued at $289,465. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Julie A. Huber sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $29.91, for a total value of $38,883.00. Following the completion of the sale, the executive vice president now owns 42,382 shares in the company, valued at approximately $1,267,645.62. The disclosure for this sale can be found here. Insiders have purchased 9,150 shares of company stock valued at $292,947 over the last three months. Insiders own 14.90% of the company’s stock.
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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