Equity Bancshares (NYSE:EQBK) Issues Earnings Results, Beats Estimates By $0.17 EPS

Equity Bancshares (NYSE:EQBK) announced its quarterly earnings data on Tuesday. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.17, FiscalAI reports. Equity Bancshares had a return on equity of 13.67% and a net margin of 8.26%.The business had revenue of $81.93 million during the quarter, compared to analysts’ expectations of $85.10 million.

Equity Bancshares Trading Up 0.2%

NYSE:EQBK opened at $49.08 on Thursday. The company has a market cap of $1.01 billion, a PE ratio of 29.39 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a 50 day simple moving average of $46.98 and a two-hundred day simple moving average of $46.02. Equity Bancshares has a 12 month low of $36.04 and a 12 month high of $51.48.

Equity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Equity Bancshares’s payout ratio is 43.11%.

Insider Buying and Selling at Equity Bancshares

In other news, Director Donald Scott Rogerson acquired 2,000 shares of Equity Bancshares stock in a transaction that occurred on Wednesday, April 29th. The stock was bought at an average price of $45.93 per share, for a total transaction of $91,860.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $229,650. The trade was a 66.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brett A. Reber sold 1,686 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $47.85, for a total transaction of $80,675.10. Following the sale, the general counsel directly owned 34,495 shares of the company’s stock, valued at $1,650,585.75. The trade was a 4.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.50% of the stock is owned by corporate insiders.

Institutional Trading of Equity Bancshares

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in Equity Bancshares by 29.6% during the third quarter. BNP Paribas Financial Markets now owns 2,838 shares of the company’s stock valued at $116,000 after purchasing an additional 649 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Equity Bancshares by 5.6% in the third quarter. Intech Investment Management LLC now owns 7,306 shares of the company’s stock worth $297,000 after purchasing an additional 388 shares in the last quarter. Voleon Capital Management LP purchased a new stake in shares of Equity Bancshares in the second quarter worth $315,000. Brevan Howard Capital Management LP bought a new stake in shares of Equity Bancshares during the 2nd quarter valued at $310,000. Finally, Sei Investments Co. purchased a new position in shares of Equity Bancshares during the 2nd quarter valued at $278,000. 71.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EQBK. Royal Bank Of Canada reiterated a “buy” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Piper Sandler restated an “overweight” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Weiss Ratings cut shares of Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Benchmark initiated coverage on shares of Equity Bancshares in a research note on Wednesday, June 24th. They issued a “buy” rating and a $57.00 target price on the stock. Finally, Hovde Group began coverage on shares of Equity Bancshares in a report on Wednesday, June 10th. They set a “market perform” rating and a $51.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.20.

About Equity Bancshares

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.