Equity Bancshares (NYSE:EQBK) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Equity Bancshares (NYSE:EQBK) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

EQBK has been the subject of a number of other reports. DA Davidson increased their price objective on shares of Equity Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday. Hovde Group lifted their target price on Equity Bancshares from $51.00 to $53.00 and gave the company a “market perform” rating in a research report on Friday. Weiss Ratings raised Equity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Benchmark initiated coverage on Equity Bancshares in a report on Wednesday, June 24th. They set a “buy” rating and a $57.00 target price on the stock. Finally, Piper Sandler reissued an “overweight” rating on shares of Equity Bancshares in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Equity Bancshares presently has an average rating of “Moderate Buy” and an average target price of $55.00.

Equity Bancshares Price Performance

NYSE EQBK opened at $50.90 on Friday. The firm’s 50 day moving average is $50.06 and its 200-day moving average is $47.13. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.05 billion, a PE ratio of 30.48 and a beta of 0.76. Equity Bancshares has a 12-month low of $38.60 and a 12-month high of $52.27.

Equity Bancshares (NYSE:EQBK) last announced its earnings results on Tuesday, July 14th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.24 by $0.17. The business had revenue of $81.93 million during the quarter, compared to analysts’ expectations of $85.10 million. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.34%. Equities research analysts anticipate that Equity Bancshares will post 5.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Brett Reber sold 1,686 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $47.85, for a total value of $80,675.10. Following the sale, the general counsel directly owned 34,495 shares of the company’s stock, valued at approximately $1,650,585.75. This represents a 4.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Julie Huber sold 2,197 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $51.12, for a total transaction of $112,310.64. Following the completion of the sale, the chief operating officer owned 62,009 shares of the company’s stock, valued at $3,169,900.08. This trade represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders purchased 4,989 shares of company stock worth $250,919 and sold 26,186 shares worth $1,331,626. 14.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. increased its holdings in shares of Equity Bancshares by 282.0% during the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock worth $28,000 after acquiring an additional 502 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Equity Bancshares during the 2nd quarter valued at $36,000. Royal Bank of Canada lifted its holdings in Equity Bancshares by 132.0% during the 4th quarter. Royal Bank of Canada now owns 972 shares of the company’s stock valued at $44,000 after purchasing an additional 553 shares during the last quarter. State of Wyoming bought a new position in Equity Bancshares during the second quarter worth $59,000. Finally, Tower Research Capital LLC TRC boosted its position in Equity Bancshares by 233.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock worth $79,000 after purchasing an additional 1,347 shares during the period. 71.80% of the stock is currently owned by institutional investors.

Equity Bancshares Company Profile

Equity Bancshares, Inc is the bank holding company for Equity Bank, a regional financial services provider headquartered in Wichita, Kansas. As a publicly traded company on the New York Stock Exchange under the ticker EQBK, Equity Bancshares operates a network of branches and lending offices across Kansas, Missouri, Oklahoma, Illinois and Colorado. Its geographic footprint spans both urban and rural markets, reflecting a focus on supporting small businesses, agricultural enterprises and individual consumers throughout the Midwest.

The company’s core business activities encompass a full spectrum of commercial and consumer banking services.