Equity Bancshares (NYSE:EQBK) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Equity Bancshares from “buy” to “hold,” though the broader analyst consensus remains “Moderate Buy” with a $54.17 price target.
• EQBK shares opened at $51.61, near their 52-week high of $52.27. The company recently reported quarterly EPS of $1.41, beating estimates of $1.24, while revenue of $81.93 million fell short of forecasts.
• Institutional investors own 71.8% of the stock, while insiders own 14.5%; recent activity included a director’s $100,500 purchase and reported insider sales totaling $1.32 million over three months.

Equity Bancshares (NYSE:EQBK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Several other research firms have also recently issued reports on EQBK. Piper Sandler reissued an "overweight" rating on shares of Equity Bancshares in a research report on Monday, June 22nd. Benchmark assumed coverage on Equity Bancshares in a research note on Wednesday, June 24th. They issued a "buy" rating and a $57.00 price objective on the stock. Stephens lifted their target price on Equity Bancshares from $58.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Equity Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday. Finally, DA Davidson raised their price target on Equity Bancshares from $47.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.17.

Equity Bancshares Price Performance

Shares of EQBK stock opened at $51.61 on Friday. The stock has a 50 day moving average price of $49.29 and a 200 day moving average price of $46.75. Equity Bancshares has a 52-week low of $38.60 and a 52-week high of $52.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $1.06 billion, a P/E ratio of 30.90 and a beta of 0.77.

Equity Bancshares (NYSE:EQBK - Get Free Report) last released its 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 business had revenue of $81.93 million for the quarter, compared to analyst estimates of $85.10 million. Equity Bancshares had a return on equity of 13.34% and a net margin of 8.26%. As a group, sell-side analysts predict that Equity Bancshares will post 5.18 earnings per share for the current year.

Insider Activity at Equity Bancshares

In other news, Director Donald Scott Rogerson bought 2,000 shares of the stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $50.25 per share, for a total transaction of $100,500.00. Following the completion of the purchase, the director directly owned 8,103 shares in the company, valued at approximately $407,175.75. The trade was a 32.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brett A. Reber sold 1,686 shares of Equity Bancshares stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $47.85, for a total transaction of $80,675.10. Following the completion of the transaction, the general counsel directly owned 34,495 shares in the company, valued at $1,650,585.75. This represents a 4.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,039 shares of company stock valued at $1,324,083 over the last three months. Company insiders own 14.50% of the company's stock.

Hedge Funds Weigh In On Equity Bancshares

Several hedge funds have recently modified their holdings of the stock. Patriot Financial Partners GP II L.P. acquired a new position in shares of Equity Bancshares in the 3rd quarter valued at $49,541,000. FJ Capital Management LLC lifted its position in Equity Bancshares by 8.6% during the third quarter. FJ Capital Management LLC now owns 1,222,791 shares of the company's stock valued at $49,768,000 after purchasing an additional 96,695 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Equity Bancshares in the second quarter worth about $3,967,000. Kennedy Capital Management LLC boosted its position in Equity Bancshares by 37.2% in the 4th quarter. Kennedy Capital Management LLC now owns 279,264 shares of the company's stock worth $12,469,000 after purchasing an additional 75,785 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in Equity Bancshares during the third quarter worth $1,933,000. Institutional investors and hedge funds own 71.80% of the company's stock.

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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