Equity Bancshares (NYSE:EQBK) Shares Gap Down - Here's Why

Key Points

• Equity Bancshares shares experienced a notable gap down, opening at $40.97, compared to the previous close of $42.27.
• Several analysts have upgraded their ratings for Equity Bancshares, with Piper Sandler now listing it as a "strong-buy," contributing to a consensus rating of "Strong Buy."
• The company reported earnings of $1.21 per share for the latest quarter, surpassing expectations and demonstrating a net margin of 19.99% and a return on equity of 12.17%.

Equity Bancshares, Inc. (NYSE:EQBK - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $42.27, but opened at $40.97. Equity Bancshares shares last traded at $41.55, with a volume of 14,297 shares changing hands.

Analysts Set New Price Targets

EQBK has been the topic of several recent analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Equity Bancshares in a report on Wednesday, October 8th. Piper Sandler raised shares of Equity Bancshares to a "strong-buy" rating in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Equity Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Zacks Research raised shares of Equity Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Strong Buy".

Equity Bancshares Stock Performance

The company's fifty day moving average price is $40.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $793.40 million, a price-to-earnings ratio of 10.24 and a beta of 0.82.

Equity Bancshares (NYSE:EQBK - Get Free Report) last posted its earnings results on Tuesday, October 14th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.22. Equity Bancshares had a net margin of 19.99% and a return on equity of 12.17%. The firm had revenue of $71.36 million during the quarter, compared to the consensus estimate of $69.35 million.

About Equity Bancshares

Equity Bancshares, Inc operates as the bank holding company for Equity Bank that provides a range of banking, mortgage banking, and financial services to individual and corporate customers. The company accepts various demand, savings, money market, and time deposits. Its loan products include commercial and industrial, commercial real estate-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses.

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