Equity Bancshares (NASDAQ:EQBK) Cut to “Hold” at StockNews.com


Equity Bancshares (NASDAQ:EQBKGet Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other analysts also recently weighed in on EQBK. DA Davidson lifted their target price on Equity Bancshares to $33.00 in a research note on Friday, July 22nd. Piper Sandler cut their target price on Equity Bancshares from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, June 17th. Finally, Stephens lifted their target price on Equity Bancshares to $34.00 in a research note on Friday, July 22nd.

Equity Bancshares Stock Performance

NASDAQ:EQBK traded down $0.19 during midday trading on Thursday, reaching $31.62. 30,555 shares of the company traded hands, compared to its average volume of 47,481. Equity Bancshares has a twelve month low of $28.06 and a twelve month high of $36.00. The firm has a market capitalization of $514.65 million, a price-to-earnings ratio of 9.64 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.74 and a quick ratio of 0.74. The company has a fifty day moving average price of $30.63 and a 200 day moving average price of $31.41.

Equity Bancshares (NASDAQ:EQBKGet Rating) last announced its earnings results on Tuesday, July 19th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.20. Equity Bancshares had a return on equity of 13.55% and a net margin of 25.90%. During the same quarter in the prior year, the company posted $1.09 EPS. On average, analysts expect that Equity Bancshares will post 3.42 EPS for the current fiscal year.

Insider Transactions at Equity Bancshares

In other news, EVP Julie A. Huber sold 9,500 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $30.77, for a total value of $292,315.00. Following the sale, the executive vice president now owns 46,978 shares of the company’s stock, valued at approximately $1,445,513.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Tina Marie Call sold 2,903 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $31.96, for a total transaction of $92,779.88. Following the sale, the insider now directly owns 7,220 shares of the company’s stock, valued at $230,751.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julie A. Huber sold 9,500 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $30.77, for a total value of $292,315.00. Following the sale, the executive vice president now directly owns 46,978 shares in the company, valued at $1,445,513.06. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Equity Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of EQBK. Amalgamated Bank purchased a new position in shares of Equity Bancshares during the first quarter valued at $53,000. IMA Wealth Inc. bought a new stake in shares of Equity Bancshares during the 4th quarter worth about $109,000. SG Americas Securities LLC bought a new stake in shares of Equity Bancshares during the 2nd quarter worth about $158,000. Zebra Capital Management LLC acquired a new position in shares of Equity Bancshares during the 1st quarter worth about $202,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Equity Bancshares during the 4th quarter worth about $222,000. 59.08% of the stock is owned by institutional investors and hedge funds.

Equity Bancshares Company Profile

(Get Rating)

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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