Equity Bancshares, Inc. $EQBK Shares Sold by PDT Partners LLC

Key Points

• PDT Partners LLC reduced its stake in Equity Bancshares, Inc. by 53.4% in the first quarter, bringing its holdings to 5,438 shares valued at $214,000.
• Multiple large investors, including T. Rowe Price and Vanguard Group, increased their positions in Equity Bancshares during the same quarter, with a collective 71.80% of the stock now owned by institutional investors.
• Equity Bancshares has a current market price of $42.24, with analysts projecting a consensus price target of $48.40 amid generally favorable ratings.

PDT Partners LLC cut its position in shares of Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 53.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,438 shares of the bank's stock after selling 6,231 shares during the quarter. PDT Partners LLC's holdings in Equity Bancshares were worth $214,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its position in Equity Bancshares by 1.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,547,284 shares of the bank's stock worth $60,963,000 after purchasing an additional 19,139 shares in the last quarter. FJ Capital Management LLC lifted its position in Equity Bancshares by 7.0% during the first quarter. FJ Capital Management LLC now owns 1,206,571 shares of the bank's stock valued at $47,539,000 after buying an additional 79,195 shares in the last quarter. Vanguard Group Inc. grew its stake in Equity Bancshares by 5.7% during the first quarter. Vanguard Group Inc. now owns 888,650 shares of the bank's stock worth $35,013,000 after buying an additional 47,716 shares during the period. Wellington Management Group LLP grew its stake in Equity Bancshares by 17.2% during the first quarter. Wellington Management Group LLP now owns 676,587 shares of the bank's stock worth $26,658,000 after buying an additional 99,357 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Equity Bancshares by 0.7% in the first quarter. The Manufacturers Life Insurance Company now owns 382,468 shares of the bank's stock worth $15,069,000 after acquiring an additional 2,736 shares in the last quarter. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

Equity Bancshares Price Performance

EQBK opened at $42.24 on Friday. Equity Bancshares, Inc. has a twelve month low of $34.11 and a twelve month high of $50.85. The firm has a market cap of $811.67 million, a price-to-earnings ratio of 10.61 and a beta of 0.83. 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 company has a fifty day simple moving average of $40.22 and a 200 day simple moving average of $39.62.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EQBK. DA Davidson lifted their target price on shares of Equity Bancshares from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on Equity Bancshares from $45.00 to $47.00 and gave the stock a "market perform" rating in a research note on Thursday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.40.

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.

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