Equity Bancshares (NYSE:EQBK) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Equity Bancshares from “hold” to “buy,” contributing to a consensus “Moderate Buy” rating and an average analyst price target of $55.
• Equity Bancshares reported quarterly EPS of $1.41, exceeding estimates of $1.24, although revenue of $81.93 million fell short of the $85.10 million consensus forecast.
• The stock opened at $50.90, near its 12-month high of $52.27. Insider activity was mixed, with directors buying shares while the CEO and other insiders recorded larger recent sales.

Equity Bancshares (NYSE:EQBK - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Several other research analysts also recently issued reports on the company. Weiss Ratings raised Equity Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Hovde Group lifted their target price on shares of Equity Bancshares from $51.00 to $53.00 and gave the stock a "market perform" rating in a research report on Friday. Benchmark initiated coverage on shares of Equity Bancshares in a report on Wednesday, June 24th. They set a "buy" rating and a $57.00 target price on the stock. Keefe, Bruyette & Woods restated a "market perform" rating on shares of Equity Bancshares in a research report on Monday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a "buy" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Equity Bancshares Trading Down 0.2%

NYSE EQBK opened at $50.90 on Friday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 30.48 and a beta of 0.76. Equity Bancshares has a twelve month low of $38.60 and a twelve month high of $52.27. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58. The business's fifty day moving average is $50.06 and its 200 day moving average is $47.13.

Equity Bancshares (NYSE:EQBK - Get Free Report) last issued its earnings results on Tuesday, July 14th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.17. Equity Bancshares had a return on equity of 13.34% and a net margin of 8.26%.The business had revenue of $81.93 million during the quarter, compared to analysts' expectations of $85.10 million. As a group, sell-side analysts expect that Equity Bancshares will post 5.18 EPS for the current fiscal year.

Insider Activity at Equity Bancshares

In related news, Director Lisa Ann Schlehuber bought 989 shares of Equity Bancshares stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of $50.98 per share, for a total transaction of $50,419.22. Following the completion of the acquisition, the director directly owned 2,092 shares of the company's stock, valued at approximately $106,650.16. The trade was a 89.66% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brad S. Elliott sold 12,272 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $51.03, for a total transaction of $626,240.16. Following the sale, the chief executive officer directly owned 55,313 shares of the company's stock, valued at $2,822,622.39. This represents a 18.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 4,989 shares of company stock valued at $250,919 and sold 26,186 shares valued at $1,331,626. 14.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Equity Bancshares

A number of institutional investors have recently modified their holdings of EQBK. Osaic Holdings Inc. increased its position in shares of Equity Bancshares by 282.0% during the second quarter. Osaic Holdings Inc. now owns 680 shares of the company's stock worth $28,000 after buying an additional 502 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Equity Bancshares in the second quarter valued at $36,000. Royal Bank of Canada lifted its holdings in Equity Bancshares by 132.0% in the fourth quarter. Royal Bank of Canada now owns 972 shares of the company's stock valued at $44,000 after buying an additional 553 shares during the period. State of Wyoming bought a new stake in Equity Bancshares during the second quarter valued at $59,000. Finally, Tower Research Capital LLC TRC boosted its position in Equity Bancshares by 233.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company's stock valued at $79,000 after acquiring an additional 1,347 shares during the last quarter. 71.80% of the stock is owned by institutional investors.

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.

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