Equity Bancshares (NASDAQ:EQBK) Trading 4.1% Higher After Dividend Announcement

Shares of Equity Bancshares, Inc. (NASDAQ:EQBKGet Rating) traded up 4.1% on Wednesday after the company announced a dividend. The company traded as high as $31.41 and last traded at $31.41. 369 shares traded hands during trading, a decline of 99% from the average session volume of 33,520 shares. The stock had previously closed at $30.17.

The newly announced dividend which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Equity Bancshares’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, September 29th. Equity Bancshares’s payout ratio is presently 9.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler decreased their target price on Equity Bancshares from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, June 17th. StockNews.com upgraded Equity Bancshares from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Stephens lifted their price target on Equity Bancshares to $37.00 in a report on Tuesday, August 23rd. Finally, DA Davidson lifted their price target on Equity Bancshares to $33.00 in a report on Friday, July 22nd.

Equity Bancshares Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $496.86 million, a PE ratio of 9.41 and a beta of 0.74. The business has a fifty day moving average price of $31.35 and a two-hundred day moving average price of $31.23.

Equity Bancshares (NASDAQ:EQBKGet Rating) last issued its quarterly earnings results on Tuesday, July 19th. The bank reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.17. The business had revenue of $49.20 million for the quarter, compared to the consensus estimate of $47.21 million. Equity Bancshares had a return on equity of 13.77% and a net margin of 25.90%. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, analysts anticipate that Equity Bancshares, Inc. will post 3.48 EPS for the current fiscal year.

Insider Activity at Equity Bancshares

In related news, EVP Julie A. Huber sold 9,500 shares of Equity Bancshares stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $30.77, for a total transaction of $292,315.00. Following the completion of the sale, the executive vice president now owns 46,978 shares of the company’s stock, valued at $1,445,513.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Equity Bancshares news, EVP Julie A. Huber sold 9,500 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $30.77, for a total value of $292,315.00. Following the completion of the sale, the executive vice president now owns 46,978 shares of the company’s stock, valued at $1,445,513.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Gregory H. Kossover sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $33.53, for a total value of $167,650.00. Following the completion of the sale, the chief operating officer now directly owns 66,449 shares of the company’s stock, valued at approximately $2,228,034.97. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Institutional Trading of Equity Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in shares of Equity Bancshares by 2.2% in the fourth quarter. Northern Trust Corp now owns 133,964 shares of the bank’s stock worth $4,545,000 after buying an additional 2,862 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Equity Bancshares by 18.3% during the 4th quarter. Renaissance Technologies LLC now owns 154,800 shares of the bank’s stock worth $5,252,000 after purchasing an additional 23,900 shares during the last quarter. Adamsbrown Wealth Consultants LLC acquired a new position in shares of Equity Bancshares during the 4th quarter worth about $509,000. Russell Investments Group Ltd. lifted its position in shares of Equity Bancshares by 21.7% during the 1st quarter. Russell Investments Group Ltd. now owns 30,268 shares of the bank’s stock worth $977,000 after purchasing an additional 5,392 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Equity Bancshares during the 2nd quarter worth about $158,000. Institutional investors and hedge funds own 62.29% of the company’s stock.

Equity Bancshares Company Profile

(Get Rating)

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-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses.

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