HB Wealth Management LLC Takes Position in Equity Bancshares, Inc. $EQBK

Key Points

• HB Wealth Management LLC initiated a new position in Equity Bancshares, buying 35,681 shares valued at about $1.585 million in the first quarter. The stake represented roughly 0.17% of the company.
• Equity Bancshares reported strong quarterly earnings, with EPS of $1.32, beating estimates of $1.15. Revenue came in at $83.26 million, slightly below expectations.
• The company declared a quarterly dividend of $0.18 per share, payable July 15, for an annualized yield of 1.5%. Analysts currently rate the stock a consensus Moderate Buy with a target price of $53.20.

HB Wealth Management LLC bought a new stake in Equity Bancshares, Inc. (NYSE:EQBK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,681 shares of the company's stock, valued at approximately $1,585,000. HB Wealth Management LLC owned approximately 0.17% of Equity Bancshares at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of EQBK. MQS Management LLC bought a new position in shares of Equity Bancshares during the 1st quarter worth about $286,000. T. Rowe Price Investment Management Inc. increased its stake in Equity Bancshares by 2.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,930,925 shares of the company's stock valued at $86,216,000 after acquiring an additional 44,681 shares during the period. Empowered Funds LLC raised its position in Equity Bancshares by 10.7% in the fourth quarter. Empowered Funds LLC now owns 80,317 shares of the company's stock worth $3,586,000 after purchasing an additional 7,753 shares in the last quarter. XTX Topco Ltd acquired a new position in Equity Bancshares in the fourth quarter worth about $468,000. Finally, Wellington Management Group LLP lifted its stake in Equity Bancshares by 2.7% during the fourth quarter. Wellington Management Group LLP now owns 711,599 shares of the company's stock worth $31,773,000 after purchasing an additional 18,878 shares during the period. Institutional investors and hedge funds own 71.80% of the company's stock.

Insider Activity

In other news, General Counsel Brett A. Reber sold 1,686 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $47.85, for a total value of $80,675.10. Following the transaction, the general counsel owned 34,495 shares of the company's stock, valued at approximately $1,650,585.75. This trade represents a 4.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald Scott Rogerson purchased 2,000 shares of the company's stock in a transaction that occurred on Wednesday, April 29th. The shares were acquired at an average cost of $45.93 per share, with a total value of $91,860.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at $229,650. The trade was a 66.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 14.50% of the company's stock.

Equity Bancshares Trading Down 0.5%

EQBK opened at $48.69 on Wednesday. Equity Bancshares, Inc. has a 1-year low of $36.04 and a 1-year high of $51.48. The stock has a market capitalization of $1.00 billion, a PE ratio of 38.64 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $46.66 and a two-hundred day moving average price of $45.93.

Equity Bancshares (NYSE:EQBK - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.17. Equity Bancshares had a net margin of 6.15% and a return on equity of 12.85%. The business had revenue of $83.26 million during the quarter, compared to analyst estimates of $85.24 million. As a group, equities analysts anticipate that Equity Bancshares, Inc. will post 5.06 earnings per share for the current fiscal year.

Equity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, June 30th. Equity Bancshares's dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Hovde Group began coverage on Equity Bancshares in a research note on Wednesday, June 10th. They issued a "market perform" rating and a $51.00 price objective on the stock. Weiss Ratings raised Equity Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. DA Davidson increased their price objective on Equity Bancshares from $47.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday, June 22nd. Royal Bank Of Canada restated a "buy" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Finally, Benchmark began coverage on shares of Equity Bancshares in a research report on Wednesday, June 24th. They set a "buy" rating and a $57.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.20.

Equity Bancshares 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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