Equity Bancshares (NASDAQ:EQBK) Price Target Raised to $49.00

Equity Bancshares (NASDAQ:EQBK) had its price objective hoisted by Keefe, Bruyette & Woods from $47.00 to $49.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Several other equities analysts have also recently commented on EQBK. DA Davidson restated a “neutral” rating and set a $45.00 target price on shares of Equity Bancshares in a research report on Thursday, October 16th. Piper Sandler raised their price target on Equity Bancshares from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $52.67.

Equity Bancshares Stock Down 7.6%

Shares of NASDAQ:EQBK opened at $45.16 on Friday. The firm has a fifty day moving average price of $45.25 and a two-hundred day moving average price of $42.17. The company has a market cap of $861.53 million, a price-to-earnings ratio of 11.35 and a beta of 0.87. 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 has a one year low of $34.11 and a one year high of $50.07.

Equity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, December 31st. Equity Bancshares’s dividend payout ratio is presently 54.96%.

Hedge Funds Weigh In On Equity Bancshares

Large investors have recently modified their holdings of the company. Patriot Financial Partners GP II L.P. bought a new stake in Equity Bancshares during the 3rd quarter valued at $49,541,000. CSM Advisors LLC purchased a new position in shares of Equity Bancshares in the second quarter valued at about $4,713,000. Kennedy Capital Management LLC raised its stake in shares of Equity Bancshares by 96.2% during the second quarter. Kennedy Capital Management LLC now owns 213,333 shares of the bank’s stock valued at $8,704,000 after acquiring an additional 104,613 shares during the last quarter. FJ Capital Management LLC raised its stake in shares of Equity Bancshares by 8.6% during the third quarter. FJ Capital Management LLC now owns 1,222,791 shares of the bank’s stock valued at $49,768,000 after acquiring an additional 96,695 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Equity Bancshares by 110.7% during the second quarter. American Century Companies Inc. now owns 144,982 shares of the bank’s stock worth $5,915,000 after purchasing an additional 76,167 shares during the period. 71.80% of the stock is owned by hedge funds and other institutional investors.

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.