Equity Bancshares (NYSE:EQBK) Raised to Strong-Buy at Benchmark

Equity Bancshares (NYSE:EQBK) was upgraded by research analysts at Benchmark to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

EQBK has been the subject of a number of other research reports. Royal Bank Of Canada restated a “buy” rating on shares of Equity Bancshares in a research note on Monday. DA Davidson upped their target price on Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Equity Bancshares in a research note on Monday. Piper Sandler reissued an “overweight” rating on shares of Equity Bancshares in a research note on Monday. Finally, Weiss Ratings lowered shares of Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.20.

Equity Bancshares Stock Up 0.6%

EQBK stock opened at $48.10 on Wednesday. The company has a fifty day moving average of $46.02 and a 200-day moving average of $45.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $992.78 million, a PE ratio of 38.17 and a beta of 0.78. Equity Bancshares has a one year low of $36.04 and a one year high of $50.07.

Equity Bancshares (NYSE:EQBK) last posted its earnings results on Tuesday, April 14th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.17. The firm had revenue of $83.26 million during the quarter, compared to the consensus estimate of $85.24 million. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%. As a group, analysts expect that Equity Bancshares will post 5.06 EPS for the current year.

Insider Buying and Selling

In other Equity Bancshares news, General Counsel Brett A. Reber sold 1,686 shares of the 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 completion of the sale, the general counsel owned 34,495 shares in the company, valued at approximately $1,650,585.75. This represents a 4.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald Scott Rogerson acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was purchased at an average price of $45.93 per share, for a total transaction of $91,860.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $229,650. This trade represents a 66.67% increase in their position. The SEC filing for this purchase provides additional information. 14.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equity Bancshares

A number of hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its holdings in shares of Equity Bancshares by 282.0% during the second quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock valued at $28,000 after acquiring an additional 502 shares during the period. Royal Bank of Canada raised its stake in shares of Equity Bancshares by 132.0% during the 4th quarter. Royal Bank of Canada now owns 972 shares of the company’s stock worth $44,000 after purchasing an additional 553 shares in the last quarter. State of Wyoming bought a new stake in Equity Bancshares during the second quarter valued at about $59,000. Tower Research Capital LLC TRC boosted its position in shares of Equity Bancshares by 233.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock valued at $79,000 after acquiring an additional 1,347 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Equity Bancshares by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 2,189 shares of the company’s stock valued at $89,000 after buying an additional 547 shares in the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

About Equity Bancshares

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.