DA Davidson Boosts Equity Bancshares (NASDAQ:EQBK) Price Target to $45.00

Equity Bancshares (NASDAQ:EQBK) had its price target boosted by DA Davidson from $42.00 to $45.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Equity Bancshares’ Q4 2024 earnings at $0.93 EPS.

A number of other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Equity Bancshares from $38.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Stephens raised shares of Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price objective for the company in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Equity Bancshares Price Performance

EQBK opened at $43.82 on Thursday. The company has a 50-day moving average of $40.13 and a 200-day moving average of $36.74. The company has a market capitalization of $668.39 million, a P/E ratio of 73.03 and a beta of 0.89. Equity Bancshares has a 1-year low of $22.78 and a 1-year high of $45.60. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.84 and a current ratio of 0.84.

Equity Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.15 dividend. This is a boost from Equity Bancshares’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 1.37%. Equity Bancshares’s dividend payout ratio is 100.00%.

Insiders Place Their Bets

In other Equity Bancshares news, CEO Brad S. Elliott sold 2,300 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.64, for a total value of $98,072.00. Following the completion of the transaction, the chief executive officer now owns 151,979 shares in the company, valued at approximately $6,480,384.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Leon Borck acquired 1,467 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $38.77 per share, for a total transaction of $56,875.59. Following the completion of the acquisition, the director now directly owns 11,941 shares in the company, valued at $462,952.57. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brad S. Elliott sold 2,300 shares of Equity Bancshares stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.64, for a total value of $98,072.00. Following the transaction, the chief executive officer now directly owns 151,979 shares in the company, valued at approximately $6,480,384.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Equity Bancshares

Several large investors have recently made changes to their positions in EQBK. Foundry Partners LLC lifted its stake in Equity Bancshares by 890.4% during the second quarter. Foundry Partners LLC now owns 104,985 shares of the bank’s stock valued at $3,695,000 after purchasing an additional 94,385 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Equity Bancshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 754,069 shares of the bank’s stock valued at $25,917,000 after buying an additional 10,868 shares in the last quarter. Mendon Capital Advisors Corp lifted its position in shares of Equity Bancshares by 2,539.9% during the 2nd quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock valued at $12,320,000 after acquiring an additional 336,742 shares during the last quarter. ELCO Management Co. LLC boosted its stake in shares of Equity Bancshares by 3.1% during the 2nd quarter. ELCO Management Co. LLC now owns 13,673 shares of the bank’s stock worth $481,000 after acquiring an additional 415 shares in the last quarter. Finally, Denali Advisors LLC grew its holdings in shares of Equity Bancshares by 112.5% in the 1st quarter. Denali Advisors LLC now owns 13,600 shares of the bank’s stock worth $467,000 after acquiring an additional 7,200 shares during the last quarter. Institutional investors own 71.80% of the company’s stock.

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.