Equity Bancshares (NYSE:EQBK) Upgraded to Hold at Hovde Group

Equity Bancshares (NYSE:EQBK) was upgraded by Hovde Group to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. DA Davidson cut their target price on shares of Equity Bancshares from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Piper Sandler upped their price target on Equity Bancshares from $57.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings cut Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Equity Bancshares has an average rating of “Hold” and an average price target of $51.25.

Equity Bancshares Stock Up 0.7%

Shares of NYSE EQBK opened at $47.89 on Wednesday. The firm’s 50-day simple moving average is $45.62 and its 200 day simple moving average is $45.50. The company has a market cap of $988.35 million, a price-to-earnings ratio of 38.00 and a beta of 0.78. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. Equity Bancshares has a 12-month low of $36.04 and a 12-month high of $50.07.

Equity Bancshares (NYSE:EQBK) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.17. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%. The business had revenue of $83.26 million for the quarter, compared to the consensus estimate of $85.24 million. On average, research analysts expect that Equity Bancshares will post 5.06 earnings per share for the current fiscal year.

Insider Transactions at Equity Bancshares

In other Equity Bancshares news, Director Donald Scott Rogerson bought 2,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was acquired at an average cost of $45.93 per share, with a total value of $91,860.00. Following the purchase, the director owned 5,000 shares in the company, valued at $229,650. This trade represents a 66.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.50% of the company’s stock.

Institutional Trading of Equity Bancshares

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Equity Bancshares by 98.7% during the 1st quarter. Bank of America Corp DE now owns 32,616 shares of the company’s stock worth $1,448,000 after purchasing an additional 16,200 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Equity Bancshares by 8.4% during the 1st quarter. Empowered Funds LLC now owns 87,024 shares of the company’s stock worth $3,865,000 after acquiring an additional 6,707 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Equity Bancshares by 74.5% during the 1st quarter. Quantinno Capital Management LP now owns 15,444 shares of the company’s stock worth $686,000 after acquiring an additional 6,593 shares in the last quarter. Sei Investments Co. grew its stake in shares of Equity Bancshares by 38.1% during the 1st quarter. Sei Investments Co. now owns 17,531 shares of the company’s stock worth $779,000 after acquiring an additional 4,836 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Equity Bancshares by 0.6% during the 1st quarter. First Trust Advisors LP now owns 48,621 shares of the company’s stock worth $2,159,000 after acquiring an additional 300 shares in the last quarter. 71.80% of the stock is owned by institutional investors.

Equity Bancshares Company Profile

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.