Equity Bancshares, Inc. (NASDAQ:EQBK) to Issue $0.08 Dividend

Equity Bancshares, Inc. (NASDAQ:EQBK – Get Rating) declared a dividend on Thursday, June 23rd, investing.com reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.08 per share by the bank on Thursday, July 14th. This represents a yield of 1.03%. The ex-dividend date is Wednesday, June 29th.

Equity Bancshares has a dividend payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Equity Bancshares to earn $3.33 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 9.6%.

NASDAQ:EQBK opened at $31.18 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $31.57 and its two-hundred day moving average is $32.16. Equity Bancshares has a 52 week low of $28.01 and a 52 week high of $36.00. The company has a market cap of $507.61 million, a PE ratio of 9.25 and a beta of 0.70.

Equity Bancshares (NASDAQ:EQBK – Get Rating) last announced its quarterly earnings results on Tuesday, April 19th. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.51. The business had revenue of $48.31 million for the quarter, compared to the consensus estimate of $44.81 million. Equity Bancshares had a return on equity of 14.14% and a net margin of 26.61%. During the same quarter last year, the business posted $0.65 EPS. As a group, sell-side analysts expect that Equity Bancshares will post 3.27 EPS for the current fiscal year.

Several brokerages have weighed in on EQBK. StockNews.com downgraded Equity Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Piper Sandler lowered their price target on Equity Bancshares from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, June 17th. Finally, DA Davidson set a $33.00 price target on Equity Bancshares in a research report on Monday.

In other news, insider Tina Marie Call sold 2,903 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $31.96, for a total value of $92,779.88. Following the completion of the sale, the insider now owns 7,220 shares of the company’s stock, valued at $230,751.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQBK. Bank of New York Mellon Corp boosted its position in Equity Bancshares by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 72,556 shares of the bank’s stock valued at $2,344,000 after purchasing an additional 5,470 shares during the last quarter. MetLife Investment Management LLC boosted its position in Equity Bancshares by 56.3% during the first quarter. MetLife Investment Management LLC now owns 7,241 shares of the bank’s stock valued at $234,000 after purchasing an additional 2,609 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Equity Bancshares by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 680,155 shares of the bank’s stock valued at $21,976,000 after purchasing an additional 20,950 shares during the last quarter. Prudential Financial Inc. boosted its position in Equity Bancshares by 8.5% during the first quarter. Prudential Financial Inc. now owns 28,050 shares of the bank’s stock valued at $906,000 after purchasing an additional 2,190 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Equity Bancshares by 9.8% during the first quarter. First Trust Advisors LP now owns 8,584 shares of the bank’s stock valued at $277,000 after purchasing an additional 764 shares during the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

About Equity Bancshares (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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