State Street Corp Boosts Holdings in Equity Bancshares, Inc. (NASDAQ:EQBK)

State Street Corp increased its holdings in Equity Bancshares, Inc. (NASDAQ:EQBK) by 2.6% in the third quarter, Holdings Channel.com reports. The firm owned 314,889 shares of the bank’s stock after acquiring an additional 8,103 shares during the period. State Street Corp’s holdings in Equity Bancshares were worth $12,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EQBK. BNP Paribas Financial Markets grew its stake in shares of Equity Bancshares by 7.8% during the third quarter. BNP Paribas Financial Markets now owns 3,213 shares of the bank’s stock valued at $131,000 after buying an additional 232 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in Equity Bancshares in the 3rd quarter worth approximately $203,000. SG Americas Securities LLC increased its stake in Equity Bancshares by 74.1% in the 3rd quarter. SG Americas Securities LLC now owns 5,052 shares of the bank’s stock worth $207,000 after purchasing an additional 2,150 shares during the period. Triune Financial Partners LLC purchased a new stake in shares of Equity Bancshares during the third quarter valued at approximately $268,000. Finally, PDT Partners LLC bought a new position in shares of Equity Bancshares in the third quarter worth approximately $282,000. Institutional investors own 71.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EQBK shares. Keefe, Bruyette & Woods increased their price target on shares of Equity Bancshares from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens upgraded Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price objective for the company in a report on Monday, October 14th. Finally, DA Davidson upped their target price on Equity Bancshares from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, October 17th.

Equity Bancshares Stock Performance

Shares of EQBK opened at $42.81 on Thursday. The company has a 50-day simple moving average of $45.64 and a two-hundred day simple moving average of $40.80. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $654.56 million, a PE ratio of 38.92 and a beta of 0.90. Equity Bancshares, Inc. has a one year low of $30.44 and a one year high of $50.85.

Equity Bancshares (NASDAQ:EQBK) last released its earnings results on Tuesday, October 15th. The bank reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.32. Equity Bancshares had a return on equity of 13.53% and a net margin of 6.36%. The company had revenue of $55.35 million during the quarter, compared to analysts’ expectations of $55.77 million. On average, analysts anticipate that Equity Bancshares, Inc. will post 4.27 EPS for the current fiscal year.

Equity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Equity Bancshares’s dividend payout ratio is presently 54.55%.

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.