Equity Bancshares, Inc. $EQBK Shares Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings increased its Equity Bancshares stake by 310.3% in the first quarter, reaching 28,042 shares valued at approximately $1.25 million. Institutional investors collectively own 71.8% of EQBK.
• Equity Bancshares reported quarterly EPS of $1.41, exceeding analyst expectations of $1.24, although revenue of $81.93 million fell short of the $85.10 million estimate. The company also paid a quarterly dividend of $0.18, representing a 1.4% yield.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $54.17, compared with a recent price of $50.37.

Hsbc Holdings PLC boosted its stake in Equity Bancshares, Inc. (NYSE:EQBK - Free Report) by 310.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,042 shares of the company's stock after acquiring an additional 21,207 shares during the period. Hsbc Holdings PLC owned 0.13% of Equity Bancshares worth $1,245,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Patriot Financial Partners GP II L.P. bought a new stake in shares of Equity Bancshares in the 3rd quarter worth about $49,541,000. FJ Capital Management LLC increased its holdings in shares of Equity Bancshares by 8.6% in the 3rd quarter. FJ Capital Management LLC now owns 1,222,791 shares of the company's stock valued at $49,768,000 after acquiring an additional 96,695 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Equity Bancshares by 37.2% during the 4th quarter. Kennedy Capital Management LLC now owns 279,264 shares of the company's stock valued at $12,469,000 after acquiring an additional 75,785 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Equity Bancshares during the 3rd quarter valued at approximately $1,933,000. Finally, Osaic Holdings Inc. lifted its stake in Equity Bancshares by 16,290.5% during the fourth quarter. Osaic Holdings Inc. now owns 46,713 shares of the company's stock worth $2,086,000 after purchasing an additional 46,428 shares during the last quarter. 71.80% of the stock is currently owned by institutional investors.

Insider Transactions at Equity Bancshares

In other Equity Bancshares news, Director Donald Scott Rogerson purchased 2,000 shares of the business's stock in a transaction dated Wednesday, April 29th. The shares were bought at an average price of $45.93 per share, with a total value of $91,860.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $229,650. This represents a 66.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brett A. Reber sold 1,686 shares of Equity Bancshares 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 approximately $1,650,585.75. This trade represents a 4.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.50% of the company's stock.

Equity Bancshares Price Performance

Shares of NYSE EQBK opened at $50.37 on Tuesday. Equity Bancshares, Inc. has a 1-year low of $36.04 and a 1-year high of $51.73. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The business's fifty day moving average price is $47.81 and its two-hundred day moving average price is $46.32. The firm has a market capitalization of $1.04 billion, a PE ratio of 30.16 and a beta of 0.77.

Equity Bancshares (NYSE:EQBK - Get Free Report) last posted its earnings results on Tuesday, July 14th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.17. The company had revenue of $81.93 million for the quarter, compared to analysts' expectations of $85.10 million. Equity Bancshares had a return on equity of 13.67% and a net margin of 8.26%. On average, research analysts expect that Equity Bancshares, Inc. will post 5.18 EPS for the current year.

Equity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.18 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.4%. Equity Bancshares's dividend payout ratio (DPR) is currently 43.11%.

Wall Street Analysts Forecast Growth

EQBK has been the subject of a number of research reports. Hovde Group initiated coverage on shares of Equity Bancshares in a report on Wednesday, June 10th. They issued a "market perform" rating and a $51.00 price objective for the company. DA Davidson increased their target price on shares of Equity Bancshares from $47.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday, June 22nd. Royal Bank Of Canada restated a "buy" rating on shares of Equity Bancshares in a research report on Monday, June 22nd. Benchmark assumed coverage on shares of Equity Bancshares in a report on Wednesday, June 24th. They issued a "buy" rating and a $57.00 price target for the company. Finally, Wall Street Zen raised shares of Equity Bancshares from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Equity Bancshares currently has an average rating of "Moderate Buy" and an average target price of $54.17.

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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