Equity Bancshares (NYSE:EQBK) Reaches New 1-Year High - What's Next?

Key Points

• Equity Bancshares hit a new 52-week high, trading as high as $51.60 before closing near $51.25. The move came on volume of about 127,480 shares.
• The company’s latest earnings beat expectations, with quarterly EPS of $1.41 versus the $1.24 consensus, though revenue of $81.93 million came in below forecasts. Analysts currently have a consensus rating of Moderate Buy with an average price target of $54.17.
• Equity Bancshares also paid a quarterly dividend of $0.18 per share, or $0.72 annualized, for a yield of about 1.4%. Insider and institutional activity was mixed, with one director buying shares while the general counsel sold shares, and institutional ownership remains high at 71.8%.

Equity Bancshares, Inc. (NYSE:EQBK - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $51.60 and last traded at $51.2460, with a volume of 127480 shares changing hands. The stock had previously closed at $49.20.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings downgraded Equity Bancshares from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday. Royal Bank Of Canada reiterated a "buy" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Stephens upped their price objective on Equity Bancshares from $58.00 to $59.00 and gave the company an "overweight" rating in a research note on Thursday. DA Davidson boosted their target price on Equity Bancshares from $47.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Equity Bancshares in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Equity Bancshares presently has a consensus rating of "Moderate Buy" and an average price target of $54.17.

Equity Bancshares Stock Performance

The stock's fifty day simple moving average is $46.98 and its 200-day simple moving average is $46.02. The company has a market capitalization of $1.07 billion, a PE ratio of 30.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93.

Equity Bancshares (NYSE:EQBK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.17. Equity Bancshares had a return on equity of 13.67% and a net margin of 8.26%.The company had revenue of $81.93 million for the quarter, compared to analysts' expectations of $85.10 million. As a group, equities analysts predict that Equity Bancshares, Inc. will post 5.06 earnings per share for the current year.

Equity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. Equity Bancshares's payout ratio is 43.11%.

Insider Buying and Selling

In other news, Director Donald Scott Rogerson acquired 2,000 shares of the company's stock in a transaction that occurred on Wednesday, April 29th. The shares were purchased at an average price of $45.93 per share, for a total transaction of $91,860.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at approximately $229,650. This represents a 66.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brett A. Reber sold 1,686 shares of the firm's 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 completion of the sale, the general counsel directly owned 34,495 shares in the company, valued at approximately $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 own 14.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EQBK. Cubist Systematic Strategies LLC acquired a new position in Equity Bancshares in the 1st quarter valued at $145,000. AQR Capital Management LLC boosted its position in Equity Bancshares by 334.7% in the first quarter. AQR Capital Management LLC now owns 48,038 shares of the company's stock valued at $1,893,000 after buying an additional 36,987 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Equity Bancshares by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,679 shares of the company's stock worth $381,000 after buying an additional 1,521 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Equity Bancshares by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 90,037 shares of the company's stock worth $3,547,000 after acquiring an additional 17,196 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Equity Bancshares by 5.4% in the first quarter. Empowered Funds LLC now owns 61,768 shares of the company's stock worth $2,434,000 after acquiring an additional 3,187 shares in the last quarter. 71.80% of the stock is currently owned by institutional investors.

About Equity Bancshares

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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