Equity Bancshares (NYSE:EQBK) Sets New 52-Week High - Time to Buy?

Key Points

• Equity Bancshares hit a new 52-week high, trading as high as $50.10 after previously closing at $48.99, suggesting strong recent momentum in the stock.
• Analyst sentiment is mixed but generally constructive: the stock carries a Moderate Buy consensus with an average price target of $53.20, while recent reports included both buy and neutral/hold ratings.
• The company recently topped earnings expectations with $1.32 EPS versus $1.15 expected and also announced a quarterly dividend of $0.18 per share, implying a 1.4% annualized yield.

Equity Bancshares, Inc. (NYSE:EQBK - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $50.10 and last traded at $50.1910, with a volume of 142411 shares traded. The stock had previously closed at $48.99.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EQBK shares. Royal Bank Of Canada reissued a "buy" rating on shares of Equity Bancshares in a report on Monday, June 22nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of Equity Bancshares in a report on Monday, June 22nd. Weiss Ratings raised shares of Equity Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. Hovde Group initiated coverage on Equity Bancshares in a research report on Wednesday, June 10th. They set a "market perform" rating and a $51.00 target price on the stock. Finally, DA Davidson lifted their price target on Equity Bancshares from $47.00 to $51.00 and gave the company a "neutral" rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.20.

Equity Bancshares Stock Performance

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's 50-day moving average is $46.25 and its two-hundred day moving average is $45.85. The company has a market capitalization of $1.04 billion, a P/E ratio of 40.08 and a beta of 0.78.

Equity Bancshares (NYSE:EQBK - Get Free Report) last announced its earnings results on Tuesday, April 14th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.17. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%. The business had revenue of $83.26 million during the quarter, compared to analyst estimates of $85.24 million. Equities analysts anticipate that Equity Bancshares, Inc. will post 5.06 earnings per share for the current fiscal year.

Equity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Equity Bancshares's payout ratio is currently 57.14%.

Insider Buying and Selling at Equity Bancshares

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

Hedge Funds Weigh In On Equity Bancshares

A number of large investors have recently modified their holdings of EQBK. Osaic Holdings Inc. boosted its stake in Equity Bancshares by 282.0% in the second quarter. Osaic Holdings Inc. now owns 680 shares of the company's stock worth $28,000 after buying an additional 502 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Equity Bancshares by 132.0% during the 4th quarter. Royal Bank of Canada now owns 972 shares of the company's stock valued at $44,000 after purchasing an additional 553 shares during the last quarter. State of Wyoming purchased a new position in Equity Bancshares in the 2nd quarter worth $59,000. Tower Research Capital LLC TRC lifted its stake in Equity Bancshares by 233.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company's stock worth $79,000 after purchasing an additional 1,347 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Equity Bancshares by 33.3% during the second quarter. BNP Paribas Financial Markets now owns 2,189 shares of the company's stock valued at $89,000 after buying an additional 547 shares during the period. 71.80% of the stock is owned by hedge funds and other 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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