Equity Bancshares (NASDAQ:EQBK) Shares Down 3.1%

Equity Bancshares, Inc. (NASDAQ:EQBK)’s share price dropped 3.1% during mid-day trading on Wednesday . The company traded as low as $40.11 and last traded at $40.11. Approximately 770 shares changed hands during trading, a decline of 98% from the average daily volume of 48,040 shares. The stock had previously closed at $41.38.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Equity Bancshares from $38.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Piper Sandler increased their price objective on Equity Bancshares from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Finally, Stephens lifted their target price on Equity Bancshares from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.00.

Equity Bancshares Stock Down 0.1 %

The firm has a market capitalization of $630.56 million, a P/E ratio of 68.97 and a beta of 0.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s fifty day moving average price is $39.08 and its 200-day moving average price is $35.36.

Equity Bancshares (NASDAQ:EQBK) last announced its quarterly earnings data on Tuesday, July 16th. The bank reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. The business had revenue of $55.43 million during the quarter, compared to analyst estimates of $54.56 million. Equity Bancshares had a return on equity of 12.43% and a net margin of 3.75%. As a group, equities research analysts forecast that Equity Bancshares, Inc. will post 4.01 earnings per share for the current year.

Insider Activity at Equity Bancshares

In related news, CEO Brad S. Elliott sold 24,801 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $40.64, for a total transaction of $1,007,912.64. Following the completion of the sale, the chief executive officer now directly owns 151,616 shares in the company, valued at $6,161,674.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Brad S. Elliott sold 24,801 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $40.64, for a total transaction of $1,007,912.64. Following the completion of the sale, the chief executive officer now owns 151,616 shares in the company, valued at approximately $6,161,674.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Gaeddert sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $40.99, for a total value of $245,940.00. Following the sale, the director now directly owns 17,167 shares of the company’s stock, valued at approximately $703,675.33. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equity Bancshares

Hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new position in Equity Bancshares during the 4th quarter valued at $271,000. Dimensional Fund Advisors LP lifted its stake in shares of Equity Bancshares by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 754,999 shares of the bank’s stock valued at $25,595,000 after buying an additional 30,253 shares during the period. Petiole USA ltd acquired a new stake in Equity Bancshares during the fourth quarter worth about $1,945,000. Quadrature Capital Ltd bought a new position in Equity Bancshares during the fourth quarter valued at about $322,000. Finally, Denali Advisors LLC raised its holdings in Equity Bancshares by 112.5% in the 1st quarter. Denali Advisors LLC now owns 13,600 shares of the bank’s stock valued at $467,000 after acquiring an additional 7,200 shares in the last quarter. 71.80% of the stock is owned by institutional investors.

Equity Bancshares Company Profile

Equity Bancshares, Inc operates as the bank holding company for Equity Bank that provides a range of banking, mortgage banking, and financial services to individual and corporate customers. The company accepts various demand, savings, money market, and time deposits. Its loan products include commercial and industrial, commercial real estate, commercial lines of credit, working capital, term, equipment and aircraft financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products.