Equity Bancshares (NYSE:EQBK) CEO Brad Elliott Sells 416 Shares

Key Points

• CEO Brad Elliott sold 416 Equity Bancshares shares at an average price of $51.02, totaling $21,224.32 and reducing his position by 0.75% to 55,313 shares.
• Equity Bancshares reported quarterly EPS of $1.41, beating analyst expectations of $1.24, although revenue of $81.93 million fell short of the $85.10 million consensus estimate.
• The company pays a quarterly dividend of $0.18 per share, equivalent to a $0.72 annualized payout and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.17.

Equity Bancshares, Inc. (NYSE:EQBK - Get Free Report) CEO Brad Elliott sold 416 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $51.02, for a total value of $21,224.32. Following the completion of the transaction, the chief executive officer owned 55,313 shares in the company, valued at $2,822,069.26. The trade was a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Equity Bancshares Price Performance

Equity Bancshares stock traded up $0.00 during trading hours on Friday, reaching $50.73. 19,029 shares of the stock were exchanged, compared to its average volume of 117,337. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. Equity Bancshares, Inc. has a twelve month low of $36.04 and a twelve month high of $51.73. The company has a market cap of $1.05 billion, a P/E ratio of 30.38 and a beta of 0.77. The stock has a 50 day moving average of $48.13 and a two-hundred day moving average of $46.42.

Equity Bancshares (NYSE:EQBK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.17. The company had revenue of $81.93 million during the quarter, compared to the consensus estimate of $85.10 million. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.67%. Equities analysts expect that Equity Bancshares, Inc. will post 5.18 EPS for the current fiscal year.

Equity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.4%. Equity Bancshares's dividend payout ratio (DPR) is presently 43.11%.

Institutional Investors Weigh In On Equity Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Patriot Financial Partners GP II L.P. bought a new position in shares of Equity Bancshares in the third quarter valued at approximately $49,541,000. FJ Capital Management LLC lifted its stake in Equity Bancshares by 8.6% during the 3rd quarter. FJ Capital Management LLC now owns 1,222,791 shares of the company's stock valued at $49,768,000 after acquiring an additional 96,695 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in Equity Bancshares by 37.2% during the 4th quarter. Kennedy Capital Management LLC now owns 279,264 shares of the company's stock valued at $12,469,000 after acquiring an additional 75,785 shares in the last quarter. First Trust Advisors LP purchased a new position in Equity Bancshares during the 3rd quarter worth $1,933,000. Finally, Osaic Holdings Inc. boosted its holdings in Equity Bancshares by 16,290.5% during the 4th quarter. Osaic Holdings Inc. now owns 46,713 shares of the company's stock worth $2,086,000 after acquiring an additional 46,428 shares during the last quarter. Institutional investors and hedge funds own 71.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Benchmark assumed coverage on Equity Bancshares in a research report on Wednesday, June 24th. They issued a "buy" rating and a $57.00 price objective for the company. Piper Sandler reaffirmed an "overweight" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Stephens lifted their price objective on shares of Equity Bancshares from $58.00 to $59.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Royal Bank Of Canada reissued a "buy" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Finally, Hovde Group initiated coverage on shares of Equity Bancshares in a report on Wednesday, June 10th. They issued a "market perform" rating and a $51.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Equity Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $54.17.

Equity Bancshares Company Profile

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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