TheStreet Downgrades Equity BancShares (NASDAQ:EQBK) to C+

TheStreet cut shares of Equity BancShares (NASDAQ:EQBK) from a b- rating to a c+ rating in a research report released on Thursday morning, TheStreetRatingsTable reports.

EQBK has been the topic of a number of other research reports. BidaskClub lowered shares of Equity BancShares from a hold rating to a sell rating in a research note on Wednesday. Keefe, Bruyette & Woods lowered shares of Equity BancShares from an outperform rating to a market perform rating in a research note on Friday, January 3rd. ValuEngine upgraded shares of Equity BancShares from a sell rating to a hold rating in a research note on Wednesday, December 11th. Finally, Zacks Investment Research lowered shares of Equity BancShares from a hold rating to a sell rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $30.00.

Shares of EQBK traded up $0.67 during mid-day trading on Thursday, reaching $28.06. 120,385 shares of the stock traded hands, compared to its average volume of 39,865. The firm has a market cap of $433.25 million, a price-to-earnings ratio of 17.32 and a beta of 0.51. The stock has a fifty day simple moving average of $29.73 and a 200 day simple moving average of $27.58. Equity BancShares has a 12-month low of $22.75 and a 12-month high of $34.40. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.94.

Several institutional investors and hedge funds have recently bought and sold shares of EQBK. JPMorgan Chase & Co. grew its position in shares of Equity BancShares by 27.3% during the second quarter. JPMorgan Chase & Co. now owns 4,151 shares of the bank’s stock worth $111,000 after buying an additional 889 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Equity BancShares during the second quarter worth approximately $34,000. Charles Schwab Investment Management Inc. grew its position in shares of Equity BancShares by 7.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 86,497 shares of the bank’s stock worth $2,307,000 after buying an additional 6,181 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Equity BancShares by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 69,789 shares of the bank’s stock worth $1,861,000 after buying an additional 2,408 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Equity BancShares by 1.3% during the second quarter. Northern Trust Corp now owns 164,315 shares of the bank’s stock worth $4,380,000 after buying an additional 2,046 shares in the last quarter. Institutional investors own 68.75% of the company’s stock.

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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