HB Wealth Management LLC Takes Position in Equity Bancshares, Inc. $EQBK

HB Wealth Management LLC bought a new stake in Equity Bancshares, Inc. (NYSE:EQBK) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,681 shares of the company’s stock, valued at approximately $1,585,000. HB Wealth Management LLC owned approximately 0.17% of Equity Bancshares at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of EQBK. MQS Management LLC bought a new position in shares of Equity Bancshares during the 1st quarter worth about $286,000. T. Rowe Price Investment Management Inc. increased its stake in Equity Bancshares by 2.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,930,925 shares of the company’s stock valued at $86,216,000 after acquiring an additional 44,681 shares during the period. Empowered Funds LLC raised its position in Equity Bancshares by 10.7% in the fourth quarter. Empowered Funds LLC now owns 80,317 shares of the company’s stock worth $3,586,000 after purchasing an additional 7,753 shares in the last quarter. XTX Topco Ltd acquired a new position in Equity Bancshares in the fourth quarter worth about $468,000. Finally, Wellington Management Group LLP lifted its stake in Equity Bancshares by 2.7% during the fourth quarter. Wellington Management Group LLP now owns 711,599 shares of the company’s stock worth $31,773,000 after purchasing an additional 18,878 shares during the period. Institutional investors and hedge funds own 71.80% of the company’s stock.

Insider Activity

In other news, General Counsel Brett A. Reber sold 1,686 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $47.85, for a total value of $80,675.10. Following the transaction, the general counsel owned 34,495 shares of the company’s stock, valued at approximately $1,650,585.75. This trade represents a 4.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald Scott Rogerson purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were acquired at an average cost of $45.93 per share, with a total value of $91,860.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at $229,650. The trade was a 66.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 14.50% of the company’s stock.

Equity Bancshares Trading Down 0.5%

EQBK opened at $48.69 on Wednesday. Equity Bancshares, Inc. has a 1-year low of $36.04 and a 1-year high of $51.48. The stock has a market capitalization of $1.00 billion, a PE ratio of 38.64 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $46.66 and a two-hundred day moving average price of $45.93.

Equity Bancshares (NYSE:EQBK) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.17. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%. The business had revenue of $83.26 million during the quarter, compared to analyst estimates of $85.24 million. As a group, equities analysts anticipate that Equity Bancshares, Inc. will post 5.06 earnings per share for the current fiscal year.

Equity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, June 30th. Equity Bancshares’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Hovde Group began coverage on Equity Bancshares in a research note on Wednesday, June 10th. They issued a “market perform” rating and a $51.00 price objective on the stock. Weiss Ratings raised Equity Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. DA Davidson increased their price objective on Equity Bancshares from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Royal Bank Of Canada restated a “buy” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Finally, Benchmark began coverage on shares of Equity Bancshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $57.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.20.

Equity Bancshares Profile

Equity Bancshares, Inc is the bank holding company for Equity Bank, a regional financial services provider headquartered in Wichita, Kansas. As a publicly traded company on the New York Stock Exchange under the ticker EQBK, Equity Bancshares operates a network of branches and lending offices across Kansas, Missouri, Oklahoma, Illinois and Colorado. Its geographic footprint spans both urban and rural markets, reflecting a focus on supporting small businesses, agricultural enterprises and individual consumers throughout the Midwest.

The company’s core business activities encompass a full spectrum of commercial and consumer banking services.