Equity BancShares (NASDAQ:EQBK) Stock Rating Upgraded by Zacks Investment Research

Equity BancShares (NASDAQ:EQBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm currently has a $30.00 price target on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.29% from the company’s previous close.

According to Zacks, “Equity Bancshares, Inc. operates as a bank holding company primarily in Kansas and Missouri. The company provides financial services primarily to businesses, business owners and individuals. It offers certificates of deposits, individual retirement and money market accounts, home equity lines of credit, credit cards, mortgages, treasury management, personal and business loans, investment services. Equity Bancshares, Inc. is headquartered in Wichita, Kansas. “

Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Equity BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. BidaskClub upgraded shares of Equity BancShares from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.33.

NASDAQ:EQBK traded down $0.56 during trading hours on Tuesday, hitting $26.25. The company had a trading volume of 44,355 shares, compared to its average volume of 77,333. The company has a market capitalization of $408.53 million, a PE ratio of 9.94 and a beta of 0.47. The stock has a 50-day moving average price of $26.31 and a 200 day moving average price of $26.77. Equity BancShares has a 52 week low of $22.75 and a 52 week high of $40.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.89 and a quick ratio of 0.88.

Equity BancShares (NASDAQ:EQBK) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $37.74 million for the quarter, compared to analysts’ expectations of $37.38 million. Equity BancShares had a net margin of 12.75% and a return on equity of 8.63%. Analysts anticipate that Equity BancShares will post 2.29 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in Equity BancShares by 27.3% during the second quarter. JPMorgan Chase & Co. now owns 4,151 shares of the bank’s stock valued at $111,000 after buying an additional 889 shares during the period. Tower Research Capital LLC TRC purchased a new position in Equity BancShares during the second quarter valued at $25,000. Frontier Wealth Management LLC lifted its position in Equity BancShares by 6.5% during the second quarter. Frontier Wealth Management LLC now owns 16,500 shares of the bank’s stock valued at $440,000 after buying an additional 1,000 shares during the period. Bank of Montreal Can purchased a new position in Equity BancShares during the second quarter valued at $34,000. Finally, TD Asset Management Inc. lifted its position in Equity BancShares by 7.4% during the second quarter. TD Asset Management Inc. now owns 23,200 shares of the bank’s stock valued at $619,000 after buying an additional 1,600 shares during the period. 69.42% of the stock is owned by institutional investors and hedge funds.

Equity BancShares Company Profile

Equity Bancshares, Inc operates as a bank holding company for Equity Bank that provides a range of financial services primarily to businesses, business owners, and individuals. The company accepts various deposit products, including demand, savings, money market, and time deposits. Its loan products include commercial and industrial, commercial real estate-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction loans, homebuilder, agricultural, government guaranteed, and other loans, as well as letters of credit to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses.

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