Wall Street Zen Downgrades Equity Bancshares (NYSE:EQBK) to Hold

Key Points

• Wall Street Zen downgraded Equity Bancshares to “Hold” from “Buy,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $55.33.
• Equity Bancshares reported quarterly EPS of $1.41, beating expectations of $1.24, while revenue of $81.93 million fell short of the $85.10 million consensus estimate.
• Insider activity was mixed: CEO Brad Elliott sold 12,272 shares, while Director Donald Scott Rogerson bought 2,000 shares; institutional investors own approximately 71.8% of the company.

Equity Bancshares (NYSE:EQBK - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on EQBK. Piper Sandler raised their price target on shares of Equity Bancshares from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday. Weiss Ratings upgraded shares of Equity Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Benchmark initiated coverage on shares of Equity Bancshares in a research report on Wednesday, June 24th. They issued a "buy" rating and a $57.00 target price for the company. Royal Bank Of Canada reiterated a "buy" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Equity Bancshares in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Equity Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.33.

Equity Bancshares Trading Up 0.0%

NYSE EQBK opened at $49.92 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm's fifty day simple moving average is $50.14 and its 200-day simple moving average is $47.27. Equity Bancshares has a 1-year low of $38.60 and a 1-year high of $52.27. The company has a market capitalization of $1.03 billion, a PE ratio of 29.89 and a beta of 0.76.

Equity Bancshares (NYSE:EQBK - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.17. Equity Bancshares had a return on equity of 13.34% and a net margin of 8.26%.The firm had revenue of $81.93 million for the quarter, compared to the consensus estimate of $85.10 million. As a group, sell-side analysts anticipate that Equity Bancshares will post 5.17 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Brad Elliott sold 12,272 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 55,313 shares in the company, valued at approximately $2,822,622.39. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald Scott Rogerson purchased 2,000 shares of the company's stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $50.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director directly owned 10,103 shares of the company's stock, valued at approximately $505,150. This represents a 24.68% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 4,989 shares of company stock valued at $250,919 and have sold 24,500 shares valued at $1,250,951. Insiders own 14.50% of the company's stock.

Hedge Funds Weigh In On Equity Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of EQBK. Osaic Holdings Inc. lifted its position in shares of Equity Bancshares by 282.0% in the second quarter. Osaic Holdings Inc. now owns 680 shares of the company's stock valued at $28,000 after buying an additional 502 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Equity Bancshares during the 2nd quarter worth approximately $36,000. Royal Bank of Canada raised its stake in Equity Bancshares by 132.0% in the 4th quarter. Royal Bank of Canada now owns 972 shares of the company's stock valued at $44,000 after acquiring an additional 553 shares during the period. State of Wyoming acquired a new stake in Equity Bancshares during the 2nd quarter valued at $59,000. Finally, IFP Advisors Inc lifted its holdings in Equity Bancshares by 38,500.0% during the 2nd quarter. IFP Advisors Inc now owns 1,544 shares of the company's stock valued at $76,000 after purchasing an additional 1,540 shares during the last quarter. Institutional investors 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.

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