Equity Bancshares (NASDAQ:EQBK) Price Target Raised to $52.00 at DA Davidson

Equity Bancshares (NASDAQ:EQBK) had its price target hoisted by DA Davidson from $50.00 to $52.00 in a research report released on Friday, MarketBeat reports. They currently have a neutral rating on the bank’s stock.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Equity Bancshares from $47.00 to $49.00 and gave the company a “market perform” rating in a research note on Friday. Piper Sandler upped their target price on shares of Equity Bancshares from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Equity Bancshares has a consensus rating of “Hold” and an average target price of $52.67.

Equity Bancshares Price Performance

Shares of Equity Bancshares stock opened at $45.16 on Friday. The stock has a market capitalization of $861.53 million, a P/E ratio of 11.35 and a beta of 0.87. The business has a 50 day simple moving average of $45.25 and a two-hundred day simple moving average of $42.19. Equity Bancshares has a 12 month low of $34.11 and a 12 month high of $50.07. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86.

Equity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, December 31st. Equity Bancshares’s dividend payout ratio is presently 60.00%.

Institutional Investors Weigh In On Equity Bancshares

Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in Equity Bancshares by 305.6% during the fourth quarter. State of Alaska Department of Revenue now owns 2,831 shares of the bank’s stock worth $126,000 after purchasing an additional 2,133 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Equity Bancshares by 16.2% in the 4th quarter. SG Americas Securities LLC now owns 7,333 shares of the bank’s stock valued at $327,000 after buying an additional 1,024 shares during the period. Verition Fund Management LLC increased its holdings in shares of Equity Bancshares by 22.0% during the 3rd quarter. Verition Fund Management LLC now owns 8,671 shares of the bank’s stock worth $353,000 after buying an additional 1,564 shares during the last quarter. Mariner LLC increased its holdings in shares of Equity Bancshares by 77.5% during the 3rd quarter. Mariner LLC now owns 9,030 shares of the bank’s stock worth $368,000 after buying an additional 3,944 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Equity Bancshares by 4.4% during the 3rd quarter. Millennium Management LLC now owns 36,198 shares of the bank’s stock valued at $1,473,000 after buying an additional 1,533 shares during the period. Hedge funds and other institutional investors own 71.80% of the company’s stock.

Equity Bancshares Company Profile

Equity Bancshares, Inc is a bank holding company headquartered in Wichita, Kansas, operating through its wholly owned subsidiary Equity Bank. As a full-service commercial bank, it serves both individual and business clients with a range of deposit and lending solutions.

The company’s offerings include traditional checking, savings and money market accounts, alongside consumer and commercial lending products such as real estate, construction, equipment and agricultural loans. In addition, Equity Bancshares provides treasury management and payment processing services, as well as mortgage origination and servicing.