Equity Bancshares (NYSE:EQBK) Reaches New 12-Month High – Here’s Why

Equity Bancshares, Inc. (NYSE:EQBK) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $51.60 and last traded at $51.2460, with a volume of 127480 shares changing hands. The stock had previously closed at $49.20.

Wall Street Analysts Forecast Growth

Several research firms have commented on EQBK. Wall Street Zen raised Equity Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada reiterated a “buy” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Weiss Ratings downgraded Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. DA Davidson boosted their price target on Equity Bancshares from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, June 22nd. Finally, Piper Sandler reissued an “overweight” rating on shares of Equity Bancshares in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.17.

Equity Bancshares Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.04 billion, a PE ratio of 30.20 and a beta of 0.77. The company’s 50 day moving average is $47.19 and its 200-day moving average is $46.09.

Equity Bancshares (NYSE:EQBK) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.17. The company had revenue of $81.93 million during the quarter, compared to analysts’ expectations of $85.10 million. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.67%. As a group, sell-side analysts predict that Equity Bancshares, Inc. will post 5.09 earnings per share for the current year.

Equity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.18 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. Equity Bancshares’s payout ratio is 43.11%.

Insider Transactions at Equity Bancshares

In other Equity Bancshares news, General Counsel Brett A. Reber sold 1,686 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $47.85, for a total value of $80,675.10. Following the transaction, the general counsel directly owned 34,495 shares of the company’s stock, valued at $1,650,585.75. This represents a 4.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donald Scott Rogerson bought 2,000 shares of Equity Bancshares stock in a transaction dated Wednesday, April 29th. The shares were acquired at an average price of $45.93 per share, with a total value of $91,860.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $229,650. The trade was a 66.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Equity Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Patriot Financial Partners GP II L.P. bought a new stake in Equity Bancshares in the third quarter valued at about $49,541,000. FJ Capital Management LLC lifted its holdings in Equity Bancshares by 8.6% during the 3rd quarter. FJ Capital Management LLC now owns 1,222,791 shares of the company’s stock worth $49,768,000 after buying an additional 96,695 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in Equity Bancshares by 37.2% during the 4th quarter. Kennedy Capital Management LLC now owns 279,264 shares of the company’s stock worth $12,469,000 after buying an additional 75,785 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Equity Bancshares in the 3rd quarter worth approximately $1,933,000. Finally, Osaic Holdings Inc. grew its position in shares of Equity Bancshares by 16,290.5% in the 4th quarter. Osaic Holdings Inc. now owns 46,713 shares of the company’s stock worth $2,086,000 after acquiring an additional 46,428 shares in the last quarter. Institutional investors own 71.80% of the company’s stock.

Equity Bancshares Company Profile

Equity Bancshares, Inc is the bank holding company for Equity Bank, a regional financial services provider headquartered in Wichita, Kansas. As a publicly traded company on the New York Stock Exchange under the ticker EQBK, Equity Bancshares operates a network of branches and lending offices across Kansas, Missouri, Oklahoma, Illinois and Colorado. Its geographic footprint spans both urban and rural markets, reflecting a focus on supporting small businesses, agricultural enterprises and individual consumers throughout the Midwest.

The company’s core business activities encompass a full spectrum of commercial and consumer banking services.