Bank of New York Mellon Corp Makes New $3.97 Million Investment in Equity Bancshares, Inc. $EQBK

Bank of New York Mellon Corp acquired a new stake in shares of Equity Bancshares, Inc. (NYSE:EQBK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 80,967 shares of the company's stock, valued at approximately $3,967,000. Bank of New York Mellon Corp owned 0.39% of Equity Bancshares as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP grew its stake in Equity Bancshares by 0.6% during the first quarter. First Trust Advisors LP now owns 48,621 shares of the company's stock worth $2,159,000 after buying an additional 300 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Equity Bancshares by 0.7% in the fourth quarter. Russell Investments Group Ltd. now owns 51,640 shares of the company's stock valued at $2,306,000 after acquiring an additional 381 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Equity Bancshares by 5.6% in the third quarter. Intech Investment Management LLC now owns 7,306 shares of the company's stock valued at $297,000 after acquiring an additional 388 shares during the last quarter. Mariner LLC boosted its holdings in shares of Equity Bancshares by 5.4% in the 4th quarter. Mariner LLC now owns 9,516 shares of the company's stock worth $425,000 after acquiring an additional 486 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Equity Bancshares by 282.0% during the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the company's stock worth $28,000 after acquiring an additional 502 shares during the last quarter. Institutional investors and hedge funds own 71.80% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Brett Reber sold 1,686 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $47.85, for a total value of $80,675.10. Following the sale, the general counsel directly owned 34,495 shares in the company, valued at $1,650,585.75. This trade represents a 4.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Julie Huber sold 2,197 shares of Equity Bancshares stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $51.12, for a total transaction of $112,310.64. Following the transaction, the chief operating officer directly owned 62,009 shares in the company, valued at $3,169,900.08. The trade was a 3.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders purchased 4,989 shares of company stock worth $250,919 and sold 26,186 shares worth $1,331,626. Insiders own 14.50% of the company's stock.

Equity Bancshares Trading Down 0.2%

Shares of NYSE EQBK opened at $50.90 on Friday. Equity Bancshares, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $52.27. The firm has a market capitalization of $1.05 billion, a P/E ratio of 30.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.93 and a quick ratio of 0.93. The company's 50 day simple moving average is $50.06 and its 200 day simple moving average is $47.13.

Equity Bancshares (NYSE:EQBK - Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.17. The firm had revenue of $81.93 million during the quarter, compared to analyst estimates of $85.10 million. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.34%. On average, analysts predict that Equity Bancshares, Inc. will post 5.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EQBK shares. DA Davidson boosted their price objective on Equity Bancshares from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday. Wall Street Zen upgraded shares of Equity Bancshares from a "hold" rating to a "buy" rating in a research report on Saturday. Hovde Group raised their price objective on shares of Equity Bancshares from $51.00 to $53.00 and gave the company a "market perform" rating in a research report on Friday. Piper Sandler reaffirmed an "overweight" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Finally, Benchmark initiated coverage on shares of Equity Bancshares in a research note on Wednesday, June 24th. They set a "buy" rating and a $57.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

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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