Equity Bancshares (NASDAQ:EQBK) Price Target Raised to $47.00 at Keefe, Bruyette & Woods

Key Points

• Equity Bancshares has received a price target increase from Keefe, Bruyette & Woods, raising it from $45.00 to $47.00, suggesting a potential upside of 10.16% from its previous close.
• DA Davidson also raised its target price from $44.00 to $45.00, while a consensus rating for the stock currently stands at "Moderate Buy" with an average price target of $48.40.
• Institutional investors control approximately 71.80% of Equity Bancshares' stock, indicating significant institutional interest and investment in the bank's operations.

Equity Bancshares (NASDAQ:EQBK - Free Report) had its price target boosted by Keefe, Bruyette & Woods from $45.00 to $47.00 in a report published on Thursday morning,Benzinga reports. They currently have a market perform rating on the bank's stock.

Separately, DA Davidson boosted their price target on shares of Equity Bancshares from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $48.40.

Equity Bancshares Stock Performance

Shares of NASDAQ EQBK traded down $0.20 during midday trading on Thursday, hitting $42.24. The company's stock had a trading volume of 82,367 shares, compared to its average volume of 76,530. The stock has a fifty day moving average price of $40.22 and a 200 day moving average price of $39.59. Equity Bancshares has a one year low of $34.11 and a one year high of $50.85. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $811.67 million, a price-to-earnings ratio of 10.61 and a beta of 0.83.

Hedge Funds Weigh In On Equity Bancshares

A number of institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its holdings in shares of Equity Bancshares by 1.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,547,284 shares of the bank's stock worth $60,963,000 after buying an additional 19,139 shares during the last quarter. FJ Capital Management LLC increased its holdings in shares of Equity Bancshares by 7.0% in the 1st quarter. FJ Capital Management LLC now owns 1,206,571 shares of the bank's stock worth $47,539,000 after buying an additional 79,195 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Equity Bancshares by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 888,650 shares of the bank's stock worth $35,013,000 after buying an additional 47,716 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Equity Bancshares by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 676,587 shares of the bank's stock worth $26,658,000 after buying an additional 99,357 shares during the last quarter. Finally, Mendon Capital Advisors Corp increased its holdings in shares of Equity Bancshares by 0.5% in the 2nd quarter. Mendon Capital Advisors Corp now owns 398,844 shares of the bank's stock worth $16,273,000 after buying an additional 1,867 shares during the last quarter. Institutional investors 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.