Equity Bancshares (NYSE:EQBK) Upgraded by Wall Street Zen to “Buy” Rating

Equity Bancshares (NYSE:EQBK) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other brokerages also recently commented on EQBK. Piper Sandler restated an “overweight” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. DA Davidson lifted their target price on Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. Stephens increased their price target on Equity Bancshares from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday. Benchmark started coverage on Equity Bancshares in a research note on Wednesday, June 24th. They set a “buy” rating and a $57.00 price target on the stock. Finally, Weiss Ratings downgraded Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.17.

Equity Bancshares Trading Down 2.1%

Shares of NYSE EQBK opened at $50.43 on Friday. The business’s 50 day moving average price is $47.19 and its 200-day moving average price is $46.09. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 30.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. Equity Bancshares has a fifty-two week low of $36.04 and a fifty-two week high of $51.73.

Equity Bancshares (NYSE:EQBK) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.17. The firm had revenue of $81.93 million for the quarter, compared to analysts’ expectations of $85.10 million. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.67%. On average, sell-side analysts expect that Equity Bancshares will post 5.09 earnings per share for the current year.

Insider Transactions at Equity Bancshares

In other news, Director Donald Scott Rogerson bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was bought at an average price of $45.93 per share, with a total value of $91,860.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $229,650. The trade was a 66.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brett A. Reber sold 1,686 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $47.85, for a total transaction of $80,675.10. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 14.50% of the stock is owned by company insiders.

Institutional Trading of Equity Bancshares

Institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its position in shares of Equity Bancshares by 282.0% in the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock worth $28,000 after purchasing an additional 502 shares in the last quarter. Royal Bank of Canada increased its position in Equity Bancshares by 132.0% during the 4th quarter. Royal Bank of Canada now owns 972 shares of the company’s stock valued at $44,000 after buying an additional 553 shares in the last quarter. State of Wyoming purchased a new stake in Equity Bancshares in the second quarter valued at about $59,000. Tower Research Capital LLC TRC raised its stake in Equity Bancshares by 233.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock valued at $79,000 after buying an additional 1,347 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Equity Bancshares by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 2,189 shares of the company’s stock worth $89,000 after acquiring an additional 547 shares in the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

Equity Bancshares Company 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.