Equity Bancshares’ (EQBK) “Buy” Rating Reiterated at Keefe, Bruyette & Woods
Equity Bancshares, Inc. (NASDAQ:EQBK)‘s stock had its “buy” rating reissued by equities research analysts at Keefe, Bruyette & Woods in a report issued on Tuesday. They presently have a $41.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 12.95% from the stock’s current price.
Several other research firms have also weighed in on EQBK. ValuEngine lowered Equity Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Sandler O’Neill began coverage on Equity Bancshares in a report on Wednesday, June 14th. They set a “buy” rating for the company. Finally, Cowen and Company assumed coverage on Equity Bancshares in a report on Wednesday, June 14th. They set a “market perform” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Equity Bancshares currently has an average rating of “Hold” and an average target price of $31.67.
Equity Bancshares (EQBK) traded up 1.54% during midday trading on Tuesday, reaching $36.30. 135,188 shares of the company’s stock were exchanged. Equity Bancshares has a 52 week low of $24.62 and a 52 week high of $38.03. The stock’s 50 day moving average is $34.28 and its 200 day moving average is $32.40. The firm has a market capitalization of $443.08 million, a P/E ratio of 27.25 and a beta of 1.13.
Equity Bancshares (NASDAQ:EQBK) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. The firm had revenue of $25.16 million during the quarter. Equity Bancshares had a return on equity of 7.41% and a net margin of 15.31%. On average, analysts expect that Equity Bancshares will post $1.96 EPS for the current fiscal year.
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In related news, CEO Brad S. Elliott sold 10,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $34.00, for a total transaction of $340,000.00. Following the completion of the sale, the chief executive officer now directly owns 201,933 shares of the company’s stock, valued at approximately $6,865,722. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brad S. Elliott sold 4,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $34.00, for a total transaction of $136,000.00. Following the sale, the chief executive officer now directly owns 200,933 shares of the company’s stock, valued at $6,831,722. The disclosure for this sale can be found here. In the last three months, insiders sold 24,000 shares of company stock worth $816,000. Insiders own 14.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brandywine Global Investment Management LLC purchased a new position in Equity Bancshares in the second quarter valued at about $118,000. V Wealth Management LLC acquired a new position in shares of Equity Bancshares during the second quarter worth about $120,000. Nationwide Fund Advisors lifted its stake in shares of Equity Bancshares by 31.0% during the first quarter. Nationwide Fund Advisors now owns 4,157 shares of the bank’s stock worth $132,000 after purchasing an additional 984 shares in the last quarter. American International Group Inc. lifted its stake in shares of Equity Bancshares by 44.9% during the first quarter. American International Group Inc. now owns 4,202 shares of the bank’s stock worth $133,000 after purchasing an additional 1,302 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of Equity Bancshares during the first quarter worth about $164,000. Hedge funds and other institutional investors own 59.70% of the company’s stock.
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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