Charles Schwab Investment Management Inc. Acquires 11,448 Shares of Equity Bancshares, Inc. $EQBK

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Equity Bancshares by 10.1% during the first quarter, owning a total of 124,461 shares valued at approximately $4.9 million.
• Analyst ratings for Equity Bancshares include a price target increase from $44.00 to $45.00 by Keefe, Bruyette & Woods, while the average consensus price target stands at $47.80.
• Equity Bancshares, Inc. has experienced a recent trading price of $40.98 with a market capitalization of $787.52 million and a P/E ratio of 10.30.

Charles Schwab Investment Management Inc. lifted its position in Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,461 shares of the bank's stock after purchasing an additional 11,448 shares during the period. Charles Schwab Investment Management Inc. owned about 0.71% of Equity Bancshares worth $4,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Equity Bancshares by 5.7% in the first quarter. Vanguard Group Inc. now owns 888,650 shares of the bank's stock worth $35,013,000 after purchasing an additional 47,716 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Equity Bancshares in the first quarter worth $561,000. Bellwether Advisors LLC purchased a new stake in shares of Equity Bancshares in the first quarter worth $39,000. TD Asset Management Inc increased its stake in shares of Equity Bancshares by 6.0% in the first quarter. TD Asset Management Inc now owns 50,114 shares of the bank's stock worth $1,974,000 after purchasing an additional 2,836 shares in the last quarter. Finally, Caliber Wealth Management LLC KS purchased a new stake in shares of Equity Bancshares in the first quarter worth $349,000. 71.80% of the stock is owned by hedge funds and other institutional investors.

Equity Bancshares Price Performance

Shares of NASDAQ:EQBK traded down $0.17 during midday trading on Monday, reaching $40.51. 53,024 shares of the company were exchanged, compared to its average volume of 75,557. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. The business's fifty day moving average is $40.09 and its two-hundred day moving average is $39.63. Equity Bancshares, Inc. has a one year low of $34.11 and a one year high of $50.85. The stock has a market cap of $778.43 million, a PE ratio of 10.18 and a beta of 0.85.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EQBK shares. DA Davidson increased their price objective on shares of Equity Bancshares from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of Equity Bancshares from $44.00 to $45.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Equity Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.80.

Equity Bancshares Profile

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, commercial lines of credit, working capital, term, equipment and aircraft financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products.