DA Davidson Reiterates "Neutral" Rating for Equity Bancshares (NASDAQ:EQBK)

Key Points

• DA Davidson has reaffirmed a "neutral" rating for Equity Bancshares (NASDAQ: EQBK) with a target price of $45.00, indicating a potential upside of 12.99% from the current stock price.
• Other analysts have mixed opinions, with Piper Sandler issuing an "overweight" rating and a target price of $54.00, while Keefe, Bruyette & Woods raised their target from $45.00 to $47.00.
• Institutional investors own 71.80% of Equity Bancshares, with significant positions raised by firms such as T. Rowe Price and Vanguard Group.

Equity Bancshares (NASDAQ:EQBK - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at DA Davidson in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $45.00 target price on the bank's stock. DA Davidson's target price points to a potential upside of 12.99% from the stock's current price.

Several other analysts have also recently commented on EQBK. Piper Sandler started coverage on shares of Equity Bancshares in a research note on Wednesday, October 8th. They issued an "overweight" rating and a $54.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on shares of Equity Bancshares from $45.00 to $47.00 and gave the stock a "market perform" rating in a research report on Thursday, September 4th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Equity Bancshares has an average rating of "Moderate Buy" and an average target price of $50.40.

Equity Bancshares Stock Performance

Shares of EQBK stock traded down $1.66 during mid-day trading on Thursday, hitting $39.83. The stock had a trading volume of 17,903 shares, compared to its average volume of 78,188. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86. Equity Bancshares has a fifty-two week low of $34.11 and a fifty-two week high of $50.85. The company's 50-day simple moving average is $40.71 and its 200-day simple moving average is $39.68. The firm has a market cap of $765.40 million, a PE ratio of 10.06 and a beta of 0.82.

Hedge Funds Weigh In On Equity Bancshares

A number of institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Equity Bancshares by 1.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,547,284 shares of the bank's stock valued at $60,963,000 after buying an additional 19,139 shares during the last quarter. FJ Capital Management LLC grew its holdings in Equity Bancshares by 7.0% in the first quarter. FJ Capital Management LLC now owns 1,206,571 shares of the bank's stock valued at $47,539,000 after purchasing an additional 79,195 shares during the period. Vanguard Group Inc. grew its holdings in Equity Bancshares by 5.7% in the first quarter. Vanguard Group Inc. now owns 888,650 shares of the bank's stock valued at $35,013,000 after purchasing an additional 47,716 shares during the period. Wellington Management Group LLP grew its holdings in Equity Bancshares by 17.2% in the first quarter. Wellington Management Group LLP now owns 676,587 shares of the bank's stock valued at $26,658,000 after purchasing an additional 99,357 shares during the period. Finally, Mendon Capital Advisors Corp grew its holdings in Equity Bancshares by 0.5% in the second quarter. Mendon Capital Advisors Corp now owns 398,844 shares of the bank's stock valued at $16,273,000 after purchasing an additional 1,867 shares during the period. Institutional investors and hedge funds own 71.80% of the company's stock.

Equity Bancshares Company Profile

Equity Bancshares, Inc operates as the bank holding company for Equity Bank that provides a range of banking, mortgage banking, and financial services to individual and corporate customers. The company accepts various demand, savings, money market, and time deposits. Its loan products include commercial and industrial, commercial real estate, commercial lines of credit, working capital, term, equipment and aircraft financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products.

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