Russell Investments Group Ltd. Purchases 5,392 Shares of Equity Bancshares, Inc. (NASDAQ:EQBK)


Russell Investments Group Ltd. boosted its position in Equity Bancshares, Inc. (NASDAQ:EQBKGet Rating) by 21.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,268 shares of the bank’s stock after acquiring an additional 5,392 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of Equity Bancshares worth $977,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EQBK. IMA Wealth Inc. bought a new position in shares of Equity Bancshares during the fourth quarter valued at about $109,000. Allspring Global Investments Holdings LLC bought a new position in shares of Equity Bancshares during the fourth quarter valued at about $222,000. First Trust Advisors LP grew its stake in shares of Equity Bancshares by 25.9% during the fourth quarter. First Trust Advisors LP now owns 7,820 shares of the bank’s stock valued at $265,000 after buying an additional 1,609 shares during the last quarter. Summit Global Investments bought a new position in shares of Equity Bancshares during the first quarter valued at about $333,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Equity Bancshares during the fourth quarter valued at about $351,000. Institutional investors own 59.08% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. DA Davidson raised their price objective 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. Stephens raised their target price on Equity Bancshares to $34.00 in a research note on Friday, July 22nd. Finally, StockNews.com raised Equity Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, August 12th.

Equity Bancshares Stock Down 1.4 %

NASDAQ EQBK opened at $33.11 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $532.77 million, a PE ratio of 10.09 and a beta of 0.74. Equity Bancshares, Inc. has a 1 year low of $28.06 and a 1 year high of $36.00. The business’s 50-day moving average is $30.80 and its 200 day moving average is $31.38.

Equity Bancshares (NASDAQ:EQBKGet Rating) last issued its quarterly earnings data on Tuesday, July 19th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.74 by $0.20. Equity Bancshares had a net margin of 25.90% and a return on equity of 13.77%. During the same period last year, the firm earned $1.09 earnings per share. Sell-side analysts forecast that Equity Bancshares, Inc. will post 3.48 earnings per share for the current year.

Equity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 14th. Shareholders of record on Thursday, June 30th were issued a $0.08 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $0.32 annualized dividend and a yield of 0.97%. Equity Bancshares’s dividend payout ratio (DPR) is presently 9.76%.

About Equity Bancshares

(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.

Further Reading

Institutional Ownership by Quarter for Equity Bancshares (NASDAQ:EQBK)



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