DA Davidson Forecasts Strong Price Appreciation for Equity Bancshares (NYSE:EQBK) Stock

Key Points

• DA Davidson raised its price target on Equity Bancshares to $51 from $47 while keeping a neutral rating, implying about 8.6% upside from the current share price.
• The broader analyst view remains cautious but constructive: the stock has one Buy and five Hold ratings, with an average price target of $52.25.
• Equity Bancshares recently beat quarterly EPS expectations, reporting $1.32 per share versus $1.15 expected, though revenue came in slightly below estimates.

Equity Bancshares (NYSE:EQBK - Get Free Report) had its price target lifted by DA Davidson from $47.00 to $51.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. DA Davidson's price objective points to a potential upside of 8.63% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Hovde Group began coverage on shares of Equity Bancshares in a report on Wednesday, June 10th. They set a "market perform" rating and a $51.00 price objective for the company. Weiss Ratings cut shares of Equity Bancshares from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 12th. Finally, Piper Sandler increased their price target on shares of Equity Bancshares from $57.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $52.25.

Equity Bancshares Stock Performance

Shares of EQBK stock traded up $0.35 during mid-day trading on Monday, reaching $46.95. The stock had a trading volume of 2,987 shares, compared to its average volume of 104,529. The firm's 50 day simple moving average is $45.92 and its 200 day simple moving average is $45.69. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. Equity Bancshares has a one year low of $36.04 and a one year high of $50.07. The firm has a market cap of $969.05 million, a PE ratio of 37.26 and a beta of 0.78.

Equity Bancshares (NYSE:EQBK - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.17. Equity Bancshares had a return on equity of 12.85% and a net margin of 6.15%.The business had revenue of $83.26 million for the quarter, compared to analysts' expectations of $85.24 million. On average, analysts forecast that Equity Bancshares will post 5.06 EPS for the current year.

Insider Transactions at Equity Bancshares

In other news, Director Donald Scott Rogerson purchased 2,000 shares of the business's stock in a transaction that occurred on Wednesday, April 29th. The stock was purchased at an average cost of $45.93 per share, with a total value of $91,860.00. Following the acquisition, the director directly owned 5,000 shares of the company's stock, valued at approximately $229,650. This trade represents a 66.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Brett A. Reber sold 1,686 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $47.85, for a total transaction of $80,675.10. Following the sale, the general counsel directly owned 34,495 shares in the company, valued at $1,650,585.75. This represents a 4.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 14.50% of the company's stock.

Hedge Funds Weigh In On Equity Bancshares

Institutional investors have recently modified their holdings of the stock. First Trust Advisors LP raised its position in shares of Equity Bancshares by 0.6% in the 1st quarter. First Trust Advisors LP now owns 48,621 shares of the company's stock valued at $2,159,000 after acquiring an additional 300 shares during the period. Russell Investments Group Ltd. grew its holdings in Equity Bancshares by 0.7% during the fourth quarter. Russell Investments Group Ltd. now owns 51,640 shares of the company's stock valued at $2,306,000 after purchasing an additional 381 shares during the period. Intech Investment Management LLC grew its holdings in Equity Bancshares by 5.6% during the third quarter. Intech Investment Management LLC now owns 7,306 shares of the company's stock valued at $297,000 after purchasing an additional 388 shares during the period. Mariner LLC increased its stake in Equity Bancshares by 5.4% in the fourth quarter. Mariner LLC now owns 9,516 shares of the company's stock valued at $425,000 after purchasing an additional 486 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Equity Bancshares by 282.0% in the second quarter. Osaic Holdings Inc. now owns 680 shares of the company's stock worth $28,000 after purchasing an additional 502 shares during the period. 71.80% of the stock is owned by institutional investors.

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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