ELCO Management Co. LLC Cuts Stock Position in Equity Bancshares, Inc. (NASDAQ:EQBK)

ELCO Management Co. LLC trimmed its holdings in Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 30.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,110 shares of the bank's stock after selling 9,169 shares during the quarter. ELCO Management Co. LLC owned about 0.12% of Equity Bancshares worth $832,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EQBK. Deutsche Bank AG lifted its holdings in Equity Bancshares by 45.1% in the fourth quarter. Deutsche Bank AG now owns 9,141 shares of the bank's stock valued at $388,000 after acquiring an additional 2,842 shares during the period. GAMMA Investing LLC raised its stake in shares of Equity Bancshares by 81,650.0% during the 1st quarter. GAMMA Investing LLC now owns 3,270 shares of the bank's stock worth $129,000 after buying an additional 3,266 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Equity Bancshares by 292.7% during the 4th quarter. Jane Street Group LLC now owns 36,757 shares of the bank's stock worth $1,559,000 after buying an additional 27,397 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Equity Bancshares during the 4th quarter worth $375,000. Finally, Bank of America Corp DE raised its position in Equity Bancshares by 42.9% during the fourth quarter. Bank of America Corp DE now owns 19,896 shares of the bank's stock worth $844,000 after acquiring an additional 5,973 shares during the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equity Bancshares

In other Equity Bancshares news, COO Julie A. Huber sold 4,000 shares of Equity Bancshares stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $39.10, for a total value of $156,400.00. Following the sale, the chief operating officer directly owned 57,688 shares in the company, valued at approximately $2,255,600.80. The trade was a 6.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.60% of the company's stock.

Equity Bancshares Trading Down 5.5%

NASDAQ:EQBK traded down $2.45 during trading hours on Tuesday, hitting $41.62. The company had a trading volume of 287,016 shares, compared to its average volume of 62,078. The company has a market capitalization of $728.89 million, a PE ratio of 10.46 and a beta of 0.78. The stock has a 50-day moving average price of $40.26 and a 200 day moving average price of $40.53. Equity Bancshares, Inc. has a 52 week low of $32.95 and a 52 week high of $50.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86.

Equity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, June 30th. Equity Bancshares's dividend payout ratio is currently 15.27%.

Analyst Upgrades and Downgrades

EQBK has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on Equity Bancshares from $46.00 to $44.00 and set a "market perform" rating for the company in a report on Monday, April 7th. DA Davidson reduced their price objective on Equity Bancshares from $40.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Janney Montgomery Scott initiated coverage on shares of Equity Bancshares in a report on Thursday, April 3rd. They issued a "neutral" rating on the stock. Finally, Piper Sandler lowered their price target on Equity Bancshares from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Equity Bancshares has an average rating of "Moderate Buy" and an average target price of $46.60.

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.