Equity Bancshares, Inc. (NASDAQ:EQBK – Get Rating) COO Gregory H. Kossover sold 1,200 shares of the business’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $34.54, for a total value of $41,448.00. Following the sale, the chief operating officer now owns 66,449 shares of the company’s stock, valued at approximately $2,295,148.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Equity Bancshares Trading Up 0.4 %
NASDAQ EQBK traded up $0.15 on Tuesday, reaching $34.50. The company had a trading volume of 65,967 shares, compared to its average volume of 45,610. The stock’s 50 day moving average is $31.40 and its 200-day moving average is $31.20. The stock has a market cap of $555.14 million, a price-to-earnings ratio of 10.07 and a beta of 0.72. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.41. Equity Bancshares, Inc. has a 52 week low of $28.06 and a 52 week high of $36.00.
Equity Bancshares Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.16%. This is a boost from Equity Bancshares’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, September 29th. Equity Bancshares’s payout ratio is presently 11.73%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQBK. Amalgamated Bank acquired a new position in Equity Bancshares in the first quarter valued at about $53,000. SG Americas Securities LLC acquired a new position in Equity Bancshares in the second quarter valued at about $158,000. Zebra Capital Management LLC acquired a new position in Equity Bancshares in the first quarter valued at about $202,000. American International Group Inc. grew its stake in Equity Bancshares by 7.1% in the second quarter. American International Group Inc. now owns 7,191 shares of the bank’s stock valued at $210,000 after acquiring an additional 478 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in Equity Bancshares in the second quarter valued at about $222,000. 62.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on EQBK shares. DA Davidson upped their price objective on Equity Bancshares to $33.00 in a report on Friday, July 22nd. StockNews.com started coverage on Equity Bancshares in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Stephens upped their price objective on Equity Bancshares to $37.00 in a report on Tuesday, August 23rd.
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-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses.
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