Equity Bancshares (NASDAQ:EQBK) Shares Gap Down - Should You Sell?

Key Points

• Equity Bancshares (NASDAQ:EQBK) gapped down from a previous close of $42.27 to open at $40.97, currently trading at $41.38 with a trading volume of 14,170 shares.
• A range of analysts has provided positive forecasts for the stock, with Piper Sandler initiating coverage and setting a price target of $54.00, while the consensus rating is a "Moderate Buy" with a target of $50.40.
• The company recently increased its quarterly dividend from $0.15 to $0.18, representing a 1.7% yield and a payout ratio of 17.87%.

Equity Bancshares, Inc. (NASDAQ:EQBK - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $42.27, but opened at $40.97. Equity Bancshares shares last traded at $41.38, with a volume of 14,170 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EQBK shares. Piper Sandler started coverage on Equity Bancshares in a research note on Wednesday, October 8th. They issued an "overweight" rating and a $54.00 price target for the company. DA Davidson lifted their target price on Equity Bancshares from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on Equity Bancshares from $45.00 to $47.00 and gave the company a "market perform" rating in a report on Thursday, September 4th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.40.

Equity Bancshares Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86. The company's 50 day simple moving average is $40.61 and its two-hundred day simple moving average is $39.67. The stock has a market capitalization of $793.32 million, a P/E ratio of 10.36 and a beta of 0.82.

Equity Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.18 dividend. This is an increase from Equity Bancshares's previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, September 30th. Equity Bancshares's dividend payout ratio (DPR) is currently 17.87%.

Institutional Investors Weigh In On Equity Bancshares

Several hedge funds have recently bought and sold shares of EQBK. MetLife Investment Management LLC raised its holdings in shares of Equity Bancshares by 4.5% during the first quarter. MetLife Investment Management LLC now owns 9,492 shares of the bank's stock worth $374,000 after acquiring an additional 413 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Equity Bancshares by 282.0% during the second quarter. Osaic Holdings Inc. now owns 680 shares of the bank's stock worth $28,000 after acquiring an additional 502 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Equity Bancshares by 33.3% during the second quarter. BNP Paribas Financial Markets now owns 2,189 shares of the bank's stock worth $89,000 after acquiring an additional 547 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Equity Bancshares by 22.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,825 shares of the bank's stock valued at $156,000 after purchasing an additional 689 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Equity Bancshares by 9.4% in the second quarter. Ameriprise Financial Inc. now owns 8,927 shares of the bank's stock valued at $364,000 after purchasing an additional 769 shares in the last quarter. 71.80% of the stock is currently owned by institutional investors and hedge funds.

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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