Zacks Investment Research cut shares of Equity BancShares (NASDAQ:EQBK) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Equity Bancshares, Inc. operates as a bank holding company primarily in Kansas and Missouri. The company provides financial services primarily to businesses, business owners and individuals. It offers certificates of deposits, individual retirement and money market accounts, home equity lines of credit, credit cards, mortgages, treasury management, personal and business loans, investment services. Equity Bancshares, Inc. is headquartered in Wichita, Kansas. “
Several other research analysts have also commented on the company. BidaskClub lowered Equity BancShares from a buy rating to a hold rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $45.00 price target on shares of Equity BancShares in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Equity BancShares has an average rating of Hold and an average target price of $34.75.
Equity BancShares (NASDAQ:EQBK) last issued its earnings results on Thursday, January 25th. The bank reported $0.55 earnings per share for the quarter. Equity BancShares had a return on equity of 8.87% and a net margin of 17.48%. The business had revenue of $28.69 million for the quarter. research analysts forecast that Equity BancShares will post 2.69 earnings per share for the current fiscal year.
In other Equity BancShares news, Director Michael R. Downing sold 10,023 shares of Equity BancShares stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $35.00, for a total value of $350,805.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 14.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of Equity BancShares in the 3rd quarter valued at approximately $109,000. MetLife Investment Advisors LLC purchased a new position in shares of Equity BancShares in the 4th quarter valued at approximately $191,000. Brandywine Global Investment Management LLC grew its stake in shares of Equity BancShares by 48.4% in the 4th quarter. Brandywine Global Investment Management LLC now owns 5,604 shares of the bank’s stock valued at $199,000 after purchasing an additional 1,827 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Equity BancShares by 1.8% in the 2nd quarter. Wells Fargo & Company MN now owns 5,775 shares of the bank’s stock valued at $177,000 after purchasing an additional 103 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Equity BancShares by 53.4% in the second quarter. Nationwide Fund Advisors now owns 6,375 shares of the bank’s stock valued at $195,000 after buying an additional 2,218 shares in the last quarter. Institutional investors own 59.22% of the company’s stock.
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Equity BancShares Company Profile
Equity Bancshares, Inc is a bank holding company. The Company’s principal activity is the ownership and management of its subsidiary, Equity Bank (the Bank). The Bank provides a range of financial services primarily to businesses and business owners, as well as individuals through its network of over 30 branches located in Kansas and Missouri.
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