Invesco Ltd. Raises Stake in Equity Bancshares, Inc. $EQBK

Key Points

• Invesco Ltd. has significantly increased its holdings in Equity Bancshares, Inc. by 238.3%, now owning approximately 88,849 shares valued at $3.50 million.
• Major institutional investors, including Connor Clark & Lunn and Vanguard Group, have also raised their stakes in Equity Bancshares during the first quarter.
• Equity Bancshares currently has an average rating of "Moderate Buy" with a price target of $47.80, reflecting optimism among analysts despite a recent stock price of $40.51.

Invesco Ltd. raised its holdings in shares of Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 238.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,849 shares of the bank's stock after purchasing an additional 62,583 shares during the quarter. Invesco Ltd. owned approximately 0.51% of Equity Bancshares worth $3,501,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Bellwether Advisors LLC purchased a new stake in shares of Equity Bancshares during the 1st quarter valued at approximately $39,000. CWM LLC raised its holdings in Equity Bancshares by 311.5% during the 1st quarter. CWM LLC now owns 2,041 shares of the bank's stock valued at $80,000 after acquiring an additional 1,545 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Equity Bancshares during the fourth quarter worth $98,000. GAMMA Investing LLC boosted its holdings in shares of Equity Bancshares by 81,650.0% in the first quarter. GAMMA Investing LLC now owns 3,270 shares of the bank's stock worth $129,000 after acquiring an additional 3,266 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in shares of Equity Bancshares in the fourth quarter worth $210,000. Hedge funds and other institutional investors own 71.80% of the company's stock.

Equity Bancshares Price Performance

Shares of NASDAQ:EQBK traded up $2.27 during trading on Wednesday, reaching $42.52. The company had a trading volume of 110,628 shares, compared to its average volume of 75,707. The company has a fifty day moving average of $40.11 and a two-hundred day moving average of $39.62. 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 stock has a market capitalization of $817.15 million, a P/E ratio of 10.68 and a beta of 0.83. Equity Bancshares, Inc. has a 12 month low of $34.11 and a 12 month high of $50.85.

Analyst Upgrades and Downgrades

Several brokerages have commented on EQBK. DA Davidson raised their target price on Equity Bancshares from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price target on Equity Bancshares from $44.00 to $45.00 and gave the company a "market perform" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.00.

Equity Bancshares Company 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.