Intech Investment Management LLC Buys Shares of 6,099 Equity Bancshares, Inc. (NASDAQ:EQBK)

Intech Investment Management LLC purchased a new position in Equity Bancshares, Inc. (NASDAQ:EQBK) during the 4th quarter, HoldingsChannel reports. The firm purchased 6,099 shares of the bank’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EQBK. Patriot Financial Partners GP LP increased its position in Equity Bancshares by 21.5% in the fourth quarter. Patriot Financial Partners GP LP now owns 1,217,214 shares of the bank’s stock worth $51,634,000 after buying an additional 215,000 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Equity Bancshares by 175.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 112,292 shares of the bank’s stock worth $4,590,000 after acquiring an additional 71,547 shares during the period. Wellington Management Group LLP bought a new stake in Equity Bancshares in the 3rd quarter valued at about $2,809,000. Stieven Capital Advisors L.P. acquired a new position in Equity Bancshares during the 4th quarter valued at about $2,121,000. Finally, JPMorgan Chase & Co. grew its position in Equity Bancshares by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 360,457 shares of the bank’s stock worth $14,735,000 after purchasing an additional 17,431 shares during the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Equity Bancshares from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group increased their price target on Equity Bancshares from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. DA Davidson cut their price objective on shares of Equity Bancshares from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, Stephens decreased their target price on shares of Equity Bancshares from $52.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equity Bancshares currently has an average rating of “Moderate Buy” and an average target price of $48.00.

Equity Bancshares Stock Down 0.1 %

EQBK opened at $40.25 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $704.81 million, a PE ratio of 10.11 and a beta of 0.94. The stock’s fifty day moving average is $42.26 and its 200-day moving average is $43.05. Equity Bancshares, Inc. has a one year low of $30.44 and a one year high of $50.85.

Equity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, March 31st. Equity Bancshares’s payout ratio is 15.08%.

About Equity Bancshares

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.