Wellington Management Group LLP Grows Stock Position in Equity Bancshares, Inc. $EQBK

Key Points

• Wellington Management Group LLP has increased its stake in Equity Bancshares, Inc. by 17.2%, owning 676,587 shares worth approximately $26.7 million.
• Equity Bancshares has seen significant activity among institutional investors, with over 71.80% of its stock held by hedge funds and other institutional investors.
• Wall Street analysts rate Equity Bancshares with a consensus opinion of "Moderate Buy" and an average price target of $47.80, indicating positive growth expectations.

Wellington Management Group LLP raised its position in shares of Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 676,587 shares of the bank's stock after purchasing an additional 99,357 shares during the period. Wellington Management Group LLP owned 3.86% of Equity Bancshares worth $26,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Equity Bancshares by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,158 shares of the bank's stock valued at $346,000 after purchasing an additional 322 shares during the period. Invesco Ltd. grew its holdings in Equity Bancshares by 1.5% during the fourth quarter. Invesco Ltd. now owns 26,266 shares of the bank's stock valued at $1,114,000 after purchasing an additional 387 shares during the period. Legal & General Group Plc grew its holdings in Equity Bancshares by 3.0% during the fourth quarter. Legal & General Group Plc now owns 14,033 shares of the bank's stock valued at $595,000 after purchasing an additional 414 shares during the period. Bellwether Advisors LLC bought a new position in Equity Bancshares during the first quarter valued at $39,000. Finally, MetLife Investment Management LLC grew its holdings in Equity Bancshares by 14.4% during the fourth quarter. MetLife Investment Management LLC now owns 9,079 shares of the bank's stock valued at $385,000 after purchasing an additional 1,145 shares during the period. 71.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EQBK has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on Equity Bancshares from $44.00 to $45.00 and gave the company a "market perform" rating in a report on Wednesday, July 16th. DA Davidson increased their price objective on Equity Bancshares from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.80.

Equity Bancshares Price Performance

NASDAQ:EQBK traded down $0.18 during trading hours on Thursday, hitting $40.68. 49,814 shares of the company's stock traded hands, compared to its average volume of 75,694. The firm has a market cap of $781.77 million, a P/E ratio of 10.22 and a beta of 0.85. Equity Bancshares, Inc. has a 52 week low of $34.11 and a 52 week high of $50.85. The business's fifty day simple moving average is $40.02 and its two-hundred day simple moving average is $39.74. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.78.

About Equity Bancshares

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.