JPMorgan Chase & Co. Decreases Position in Equity Bancshares, Inc. $EQBK

JPMorgan Chase & Co. lowered its stake in Equity Bancshares, Inc. (NASDAQ:EQBK) by 5.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 350,547 shares of the bank’s stock after selling 21,341 shares during the quarter. JPMorgan Chase & Co.’s holdings in Equity Bancshares were worth $14,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Equity Bancshares in the 3rd quarter worth approximately $28,000. Osaic Holdings Inc. lifted its position in shares of Equity Bancshares by 282.0% during the second quarter. Osaic Holdings Inc. now owns 680 shares of the bank’s stock worth $28,000 after purchasing an additional 502 shares in the last quarter. State of Wyoming purchased a new position in shares of Equity Bancshares in the second quarter valued at $59,000. Tower Research Capital LLC TRC boosted its stake in shares of Equity Bancshares by 233.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,347 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Equity Bancshares by 33.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,189 shares of the bank’s stock valued at $89,000 after purchasing an additional 547 shares in the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.

Equity Bancshares Trading Up 0.2%

NASDAQ:EQBK opened at $45.47 on Thursday. The company has a market cap of $867.39 million, a PE ratio of 11.42 and a beta of 0.88. The business’s 50 day moving average is $46.09 and its two-hundred day moving average is $43.52. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. Equity Bancshares, Inc. has a 52 week low of $34.11 and a 52 week high of $50.07.

Equity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Equity Bancshares’s payout ratio is currently 54.96%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Equity Bancshares from $47.00 to $49.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. Piper Sandler increased their price target on Equity Bancshares from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Finally, DA Davidson raised their price objective on Equity Bancshares from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.67.

Equity Bancshares Company Profile

Equity Bancshares, Inc is a bank holding company headquartered in Wichita, Kansas, operating through its wholly owned subsidiary Equity Bank. As a full-service commercial bank, it serves both individual and business clients with a range of deposit and lending solutions.

The company’s offerings include traditional checking, savings and money market accounts, alongside consumer and commercial lending products such as real estate, construction, equipment and agricultural loans. In addition, Equity Bancshares provides treasury management and payment processing services, as well as mortgage origination and servicing.