Equity Bancshares (NASDAQ:EQBK) Sets New 52-Week High – Here’s What Happened

Equity Bancshares, Inc. (NASDAQ:EQBK) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $47.73 and last traded at $45.97, with a volume of 3583 shares. The stock had previously closed at $46.52.

Wall Street Analyst Weigh In

EQBK has been the topic of several research reports. DA Davidson restated a “neutral” rating and issued a $45.00 price target on shares of Equity Bancshares in a report on Thursday, October 16th. Keefe, Bruyette & Woods lifted their target price on shares of Equity Bancshares from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, September 4th. Finally, Piper Sandler started coverage on shares of Equity Bancshares in a research report on Wednesday, October 8th. They set an “overweight” rating and a $54.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.40.

Equity Bancshares Stock Performance

The firm has a market cap of $901.91 million, a price-to-earnings ratio of 11.88 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average of $42.17 and a 200 day moving average of $40.93.

Equity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, December 31st. Equity Bancshares’s dividend payout ratio is 60.00%.

Institutional Trading of Equity Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its holdings in Equity Bancshares by 282.0% during the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the bank’s stock worth $28,000 after acquiring an additional 502 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Equity Bancshares in the 3rd quarter valued at about $28,000. State of Wyoming bought a new position in shares of Equity Bancshares during the second quarter worth about $59,000. Tower Research Capital LLC TRC lifted its position in shares of Equity Bancshares by 233.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the bank’s stock worth $79,000 after purchasing an additional 1,347 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Equity Bancshares by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 2,189 shares of the bank’s stock worth $89,000 after purchasing an additional 547 shares in the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.

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.