Equity Bancshares, Inc. (NYSE:EQBK) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst sentiment is moderately positive: Nine brokerages rate Equity Bancshares a consensus “Moderate Buy,” with an average 12-month price target of $55.33 versus the reported $48.48 share price.
• Quarterly earnings exceeded expectations: The company reported adjusted earnings of $1.41 per share, beating the $1.24 consensus estimate, though revenue of $81.93 million fell short of the $85.10 million forecast.
• Equity Bancshares raised its dividend: The quarterly payout increased to $0.22 per share, or $0.88 annualized, representing an approximate 1.8% yield and a 43.11% payout ratio.

Shares of Equity Bancshares, Inc. (NYSE:EQBK - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $55.33.

Several brokerages recently commented on EQBK. Royal Bank Of Canada reissued a "buy" rating on shares of Equity Bancshares in a research report on Monday, June 22nd. Benchmark initiated coverage on shares of Equity Bancshares in a research note on Wednesday, June 24th. They issued a "buy" rating and a $57.00 price target on the stock. Wall Street Zen lowered Equity Bancshares from a "buy" rating to a "hold" rating in a report on Sunday, September 13th. Stephens lifted their price target on shares of Equity Bancshares from $58.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Finally, Hovde Group boosted their target price on shares of Equity Bancshares from $51.00 to $53.00 and gave the company a "market perform" rating in a research report on Friday, September 4th.

Equity Bancshares Trading Up 0.2%

NYSE EQBK opened at $48.48 on Monday. Equity Bancshares has a 52 week low of $38.60 and a 52 week high of $52.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 0.93. The stock's 50 day moving average price is $50.13 and its two-hundred day moving average price is $47.54. The stock has a market capitalization of $998.12 million, a price-to-earnings ratio of 29.03 and a beta of 0.76.

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, topping the consensus estimate of $1.24 by $0.17. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.34%. The company had revenue of $81.93 million during the quarter, compared to analysts' expectations of $85.10 million. As a group, analysts anticipate that Equity Bancshares will post 5.16 earnings per share for the current fiscal year.

Equity Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a boost from Equity Bancshares's previous quarterly dividend of $0.18. Equity Bancshares's payout ratio is currently 43.11%.

Insider Transactions at Equity Bancshares

In other news, Director Lisa Ann Schlehuber purchased 989 shares of Equity Bancshares stock in a transaction dated Tuesday, July 28th. The shares were bought 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 owned 2,092 shares in the company, valued at approximately $106,650.16. This trade represents a 89.66% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Julie Huber sold 2,197 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $51.12, for a total transaction of $112,310.64. Following the completion of the transaction, the chief operating officer owned 62,009 shares of the company's stock, valued at approximately $3,169,900.08. This trade represents a 3.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 4,989 shares of company stock valued at $250,919 and sold 24,500 shares valued at $1,250,951. 14.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equity Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in Equity Bancshares in the second quarter valued at approximately $3,967,000. Kennedy Capital Management LLC raised its holdings in Equity Bancshares by 37.2% during the 4th quarter. Kennedy Capital Management LLC now owns 279,264 shares of the company's stock worth $12,469,000 after purchasing an additional 75,785 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Equity Bancshares in the 1st quarter worth approximately $1,585,000. Hsbc Holdings PLC increased its position in shares of Equity Bancshares by 310.3% during the first quarter. Hsbc Holdings PLC now owns 28,042 shares of the company's stock worth $1,245,000 after buying an additional 21,207 shares during the period. Finally, WCG Wealth Advisors LLC bought a new position in Equity Bancshares during the fourth quarter worth $777,000. Institutional investors and hedge funds own 71.80% of the company's stock.

About Equity Bancshares

Equity Bancshares, Inc is the bank holding company for Equity Bank, a community-focused financial institution headquartered in Wichita, Kansas. The company provides banking services to individuals, families, businesses, agricultural customers and government entities through its branch network and digital banking channels.

Equity Bank's products and services include checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, commercial and industrial loans, commercial real estate financing, agricultural loans, treasury management and other business banking services.

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