Equity BancShares (NASDAQ:EQBK) Downgraded by BidaskClub to Hold

BidaskClub cut shares of Equity BancShares (NASDAQ:EQBK) from a buy rating to a hold rating in a research report report published on Wednesday morning, BidAskClub reports.

Other equities analysts have also issued reports about the company. ValuEngine upgraded Equity BancShares from a hold rating to a buy rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded Equity BancShares from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $40.33.

NASDAQ EQBK traded up $0.05 during trading on Wednesday, reaching $25.66. The company’s stock had a trading volume of 452 shares, compared to its average volume of 64,501. The stock has a market capitalization of $405.11 million, a PE ratio of 9.75 and a beta of 0.48. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a fifty day moving average of $26.39 and a 200 day moving average of $26.53. Equity BancShares has a one year low of $22.75 and a one year high of $40.00.

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

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Equity BancShares by 27.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,151 shares of the bank’s stock valued at $111,000 after purchasing an additional 889 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Equity BancShares during the 2nd quarter valued at about $25,000. Frontier Wealth Management LLC increased its position in shares of Equity BancShares by 6.5% during the 2nd quarter. Frontier Wealth Management LLC now owns 16,500 shares of the bank’s stock valued at $440,000 after purchasing an additional 1,000 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Equity BancShares during the 2nd quarter valued at about $34,000. Finally, TD Asset Management Inc. increased its position in shares of Equity BancShares by 7.4% during the 2nd quarter. TD Asset Management Inc. now owns 23,200 shares of the bank’s stock valued at $619,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 69.42% of the company’s stock.

About Equity BancShares

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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