Equity Bancshares, Inc. (NYSE:EQBK) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Equity Bancshares has a “Moderate Buy” consensus rating from nine analysts, with four buys, four holds and one strong buy. The average 12-month price target is $54.17, above the reported share price of $49.73.
• The company exceeded quarterly earnings expectations, reporting $1.41 in EPS versus the $1.24 consensus, though revenue of $81.93 million fell short of the $85.10 million estimate.
• Insiders sold substantially more stock than they purchased over the past 90 days—$1.33 million versus $250,919—while institutional investors own 71.8% of outstanding shares.

Equity Bancshares, Inc. (NYSE:EQBK - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $54.1667.

A number of equities research analysts have recently commented on the company. Piper Sandler reiterated an "overweight" rating on shares of Equity Bancshares in a research report on Monday, June 22nd. Stephens upped their target price on Equity Bancshares from $58.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Weiss Ratings raised Equity Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada restated a "buy" rating on shares of Equity Bancshares in a report on Monday, June 22nd. Finally, Wall Street Zen lowered shares of Equity Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th.

Insider Transactions at Equity Bancshares

In related news, General Counsel Brett A. Reber sold 1,686 shares of the stock in a transaction on Thursday, June 11th. The stock was 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 directly owned 34,495 shares in the company, valued at approximately $1,650,585.75. This trade represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brad S. Elliott sold 4,165 shares of Equity Bancshares stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $51.12, for a total value of $212,914.80. Following the sale, the chief executive officer directly owned 55,313 shares of the company's stock, valued at approximately $2,827,600.56. The trade was a 7.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 4,989 shares of company stock worth $250,919 and sold 26,186 shares worth $1,331,626. Insiders own 14.50% of the company's stock.

Hedge Funds Weigh In On Equity Bancshares

Institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its stake in shares of Equity Bancshares by 282.0% in the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the company's stock valued at $28,000 after acquiring an additional 502 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Equity Bancshares during the second quarter valued at approximately $36,000. Royal Bank of Canada grew 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 buying an additional 553 shares during the last quarter. State of Wyoming acquired a new position in Equity Bancshares during the 2nd quarter worth $59,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Equity Bancshares by 233.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company's stock worth $79,000 after purchasing an additional 1,347 shares during the last quarter. 71.80% of the stock is currently owned by institutional investors.

Equity Bancshares Trading Up 1.5%

Shares of Equity Bancshares stock opened at $49.73 on Thursday. The business has a fifty day simple moving average of $49.98 and a 200-day simple moving average of $47.06. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 29.78 and a beta of 0.76. Equity Bancshares has a fifty-two week low of $38.60 and a fifty-two week 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.

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

About Equity Bancshares

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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