Equity Bancshares (NYSE:EQBK) Issues Quarterly Earnings Results

Key Points

• Equity Bancshares beat earnings expectations for the quarter, reporting EPS of $1.41 versus the $1.24 consensus estimate. The company also posted a net margin of 6.15% and return on equity of 12.85%.
• The stock was slightly lower on the day, trading down 0.2% to $48.77 despite the earnings beat. EQBK remains near its 52-week high of $51.48 and has a market cap of about $1.01 billion.
• Equity Bancshares declared a quarterly dividend of $0.18 per share, payable July 15 to shareholders of record on June 30. That works out to an annualized dividend of $0.72 and a yield of about 1.5%.

Equity Bancshares (NYSE:EQBK - Get Free Report) announced its earnings results on Tuesday. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.17, FiscalAI reports. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%.

Equity Bancshares Stock Down 0.2%

Shares of EQBK traded down $0.08 during mid-day trading on Tuesday, reaching $48.77. The company's stock had a trading volume of 150,456 shares, compared to its average volume of 114,952. Equity Bancshares has a 1 year low of $36.04 and a 1 year high of $51.48. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 38.71 and a beta of 0.77. The business has a fifty day moving average of $46.87 and a 200 day moving average of $45.98.

Equity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, June 30th. Equity Bancshares's payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

EQBK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating on shares of Equity Bancshares in a research report on Monday, June 22nd. Hovde Group assumed coverage on Equity Bancshares in a research report on Wednesday, June 10th. They set a "market perform" rating and a $51.00 price target on the stock. Piper Sandler reissued an "overweight" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Benchmark started coverage on Equity Bancshares in a report on Wednesday, June 24th. They issued a "buy" rating and a $57.00 price objective for the company. Finally, DA Davidson lifted their target price on Equity Bancshares from $47.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $53.20.

Insider Buying and Selling at Equity Bancshares

In other Equity Bancshares news, Director Donald Scott Rogerson acquired 2,000 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was purchased at an average cost of $45.93 per share, for a total transaction of $91,860.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at $229,650. The trade was a 66.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brett A. Reber sold 1,686 shares of Equity Bancshares stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $47.85, for a total value of $80,675.10. Following the transaction, the general counsel directly owned 34,495 shares in the company, valued at approximately $1,650,585.75. This trade represents a 4.66% decrease in their position. The SEC filing for this sale provides additional information. 14.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EQBK. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Equity Bancshares by 2.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,930,925 shares of the company's stock valued at $86,216,000 after buying an additional 44,681 shares during the last quarter. FJ Capital Management LLC raised 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 acquiring an additional 96,695 shares in the last quarter. Patriot Financial Partners GP II L.P. acquired a new stake in Equity Bancshares in the third quarter valued at approximately $49,541,000. Vanguard Group Inc. lifted its stake in Equity Bancshares by 2.5% in the third quarter. Vanguard Group Inc. now owns 921,826 shares of the company's stock valued at $37,518,000 after acquiring an additional 22,233 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Equity Bancshares by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 761,014 shares of the company's stock worth $30,974,000 after acquiring an additional 3,765 shares in the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.

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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