Equity Bancshares (NYSE:EQBK) Shares Gap Down - Should You Sell?

Key Points

• Shares gapped down, opening at $44.50 after a $46.51 close and last trading around $45.05 (down ~1.2%) on roughly 9,822 shares.
• Analysts show a consensus Hold rating with a $52.67 consensus price target (one Buy, four Holds), and several firms recently raised their targets (e.g., Piper Sandler to $57, DA Davidson to $52).
• The company declared a quarterly dividend of $0.18 (ex-dividend March 31), equating to a 1.6% yield and a 54.96% payout ratio.

Equity Bancshares, Inc. (NYSE:EQBK - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $46.51, but opened at $44.50. Equity Bancshares shares last traded at $45.0480, with a volume of 9,822 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EQBK. DA Davidson lifted their target price on shares of Equity Bancshares from $50.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, January 23rd. Piper Sandler lifted their target price on shares of Equity Bancshares from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Monday, January 12th. Weiss Ratings restated a "hold (c)" rating on shares of Equity Bancshares in a research report on Friday, March 27th. Keefe, Bruyette & Woods lifted their target price on shares of Equity Bancshares from $47.00 to $49.00 and gave the stock a "market perform" rating in a research report on Friday, January 23rd. Finally, Wall Street Zen upgraded shares of Equity Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $52.67.

Equity Bancshares Trading Down 1.2%

The firm has a market capitalization of $964.28 million, a PE ratio of 35.03 and a beta of 0.84. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.54. The business's fifty day moving average price is $45.21 and its 200 day moving average price is $44.22.

Equity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.6%. Equity Bancshares's payout ratio is 54.96%.

Institutional Investors Weigh In On Equity Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Equity Bancshares during the third quarter worth about $28,000. Osaic Holdings Inc. grew its holdings in shares of Equity Bancshares by 282.0% during 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 Equity Bancshares by 132.0% in the fourth 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 period. State of Wyoming purchased a new stake in Equity Bancshares in the second quarter valued at approximately $59,000. Finally, Tower Research Capital LLC TRC grew its holdings 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 valued at $79,000 after purchasing an additional 1,347 shares during the period. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

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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