Equity Bancshares, Inc. (EQBK) Cut to “Sell” at Zacks Investment Research
Equity Bancshares, Inc. (NASDAQ:EQBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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 firms have also recently commented on EQBK. Keefe, Bruyette & Woods reissued a “buy” rating and set a $41.00 target price on shares of Equity Bancshares in a research note on Tuesday, October 3rd. ValuEngine cut shares of Equity Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $31.67.
Shares of Equity Bancshares (NASDAQ EQBK) traded up 1.34% on Tuesday, reaching $34.09. 58,728 shares of the company’s stock traded hands. The firm has a market capitalization of $416.10 million, a price-to-earnings ratio of 25.59 and a beta of 1.13. Equity Bancshares has a 52 week low of $25.00 and a 52 week high of $38.03. The company has a 50 day moving average price of $34.95 and a 200 day moving average price of $33.00.
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In other news, CEO Brad S. Elliott sold 10,000 shares of Equity Bancshares stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $34.00, for a total value of $340,000.00. Following the transaction, the chief executive officer now owns 201,933 shares of the company’s stock, valued at approximately $6,865,722. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brad S. Elliott sold 4,000 shares of Equity Bancshares stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 200,933 shares in the company, valued at approximately $6,831,722. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $816,000 in the last ninety days. Corporate insiders own 14.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in EQBK. Brandywine Global Investment Management LLC acquired a new position in shares of Equity Bancshares in the 2nd quarter worth approximately $118,000. V Wealth Management LLC acquired a new position in shares of Equity Bancshares in the 2nd quarter worth approximately $120,000. Nationwide Fund Advisors grew its stake in shares of Equity Bancshares by 31.0% in the 1st quarter. Nationwide Fund Advisors now owns 4,157 shares of the bank’s stock worth $132,000 after purchasing an additional 984 shares during the last quarter. American International Group Inc. grew its stake in shares of Equity Bancshares by 44.9% in the 1st 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 during the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of Equity Bancshares in the 1st quarter worth approximately $164,000. 57.62% of the stock is currently owned by institutional investors.
About Equity Bancshares
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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