Mendon Capital Advisors Corp Grows Position in Equity Bancshares, Inc. (NASDAQ:EQBK)

Mendon Capital Advisors Corp grew its stake in Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 25.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 403,208 shares of the bank's stock after acquiring an additional 81,118 shares during the period. Equity Bancshares accounts for about 8.4% of Mendon Capital Advisors Corp's investment portfolio, making the stock its biggest position. Mendon Capital Advisors Corp owned approximately 2.64% of Equity Bancshares worth $17,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Equity Bancshares in the fourth quarter valued at approximately $54,000. Quantbot Technologies LP raised its position in Equity Bancshares by 139.9% in the 4th quarter. Quantbot Technologies LP now owns 2,725 shares of the bank's stock valued at $116,000 after buying an additional 1,589 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Equity Bancshares in the fourth quarter valued at $119,000. AlphaQuest LLC acquired a new stake in shares of Equity Bancshares in the fourth quarter valued at about $160,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Equity Bancshares during the 4th quarter worth approximately $252,000. Institutional investors own 71.80% of the company's stock.

Analysts Set New Price Targets

EQBK has been the topic of a number of research analyst reports. Janney Montgomery Scott began coverage on shares of Equity Bancshares in a report on Thursday, April 3rd. They issued a "neutral" rating on the stock. Piper Sandler reduced their target price on shares of Equity Bancshares from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Hovde Group increased their price target on Equity Bancshares from $56.00 to $57.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. DA Davidson reduced their price objective on shares of Equity Bancshares from $40.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Stephens lowered their price target on Equity Bancshares from $52.00 to $49.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.60.

Equity Bancshares Trading Down 1.2 %

NASDAQ:EQBK traded down $0.47 during mid-day trading on Friday, hitting $38.11. 40,731 shares of the company's stock were exchanged, compared to its average volume of 56,394. The firm has a market capitalization of $667.27 million, a P/E ratio of 9.58 and a beta of 0.73. The company has a 50 day simple moving average of $39.13 and a 200-day simple moving average of $42.52. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. Equity Bancshares, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $50.85.

Equity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Monday, March 31st. Equity Bancshares's payout ratio is presently 15.27%.

Equity Bancshares 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.