Equity Bancshares (NASDAQ:EQBK) PT Raised to $38.00

Equity Bancshares (NASDAQ:EQBK) had its target price upped by research analysts at Piper Sandler from $37.00 to $38.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Piper Sandler’s target price indicates a potential upside of 11.34% from the stock’s previous close.

Equity Bancshares Stock Performance

Shares of Equity Bancshares stock traded up $1.22 on Tuesday, hitting $34.13. 10,679 shares of the company’s stock were exchanged, compared to its average volume of 55,502. The company has a 50-day simple moving average of $32.49 and a 200-day simple moving average of $30.59. The stock has a market capitalization of $526.97 million, a PE ratio of 56.15 and a beta of 0.89. Equity Bancshares has a 1 year low of $20.50 and a 1 year high of $34.99. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.87 and a current ratio of 0.87.

Equity Bancshares (NASDAQ:EQBK) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.12. The business had revenue of ($3.95) million for the quarter, compared to analysts’ expectations of $47.67 million. Equity Bancshares had a net margin of 3.88% and a return on equity of 12.27%. As a group, equities analysts anticipate that Equity Bancshares will post 3.74 EPS for the current year.

Insider Transactions at Equity Bancshares

In other news, EVP Julie A. Huber sold 1,050 shares of Equity Bancshares stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.14, for a total transaction of $33,747.00. Following the transaction, the executive vice president now owns 56,918 shares in the company, valued at approximately $1,829,344.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Julie A. Huber sold 1,050 shares of Equity Bancshares stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.14, for a total transaction of $33,747.00. Following the transaction, the executive vice president now owns 56,918 shares in the company, valued at approximately $1,829,344.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Brett A. Reber sold 959 shares of Equity Bancshares stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.14, for a total transaction of $30,822.26. Following the transaction, the general counsel now owns 29,147 shares in the company, valued at approximately $936,784.58. The disclosure for this sale can be found here. Insiders have sold 8,478 shares of company stock worth $268,894 in the last 90 days. 8.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Rocky Mountain Advisers LLC purchased a new stake in Equity Bancshares in the 4th quarter worth $69,000. Tower Research Capital LLC TRC lifted its position in shares of Equity Bancshares by 530.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,756 shares of the bank’s stock worth $93,000 after buying an additional 2,319 shares in the last quarter. Denali Advisors LLC bought a new position in Equity Bancshares during the third quarter valued at approximately $123,000. SG Americas Securities LLC bought a new position in Equity Bancshares during the third quarter valued at approximately $164,000. Finally, Hsbc Holdings PLC bought a new position in Equity Bancshares during the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 71.80% of the company’s stock.

Equity Bancshares Company Profile

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.