Equity Bancshares, Inc. $EQBK Stock Holdings Lessened by Mendon Capital Advisors Corp

Key Points

• Mendon Capital Advisors Corp sold 6,231 shares of Equity Bancshares, reducing its position by 1.5% and making the stock its largest holding at approximately 7.7% of its portfolio.
• Several institutional investors have increased their stakes in Equity Bancshares, with CWM LLC growing its stake by a significant 311.5% in the first quarter.
• Equity Bancshares has a current consensus rating of "Moderate Buy" with an average price target of $48.40, following upgrades from multiple analysts.

Mendon Capital Advisors Corp reduced its holdings in shares of Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 396,977 shares of the bank's stock after selling 6,231 shares during the period. Equity Bancshares comprises about 7.7% of Mendon Capital Advisors Corp's investment portfolio, making the stock its biggest position. Mendon Capital Advisors Corp owned 2.27% of Equity Bancshares worth $15,641,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Bellwether Advisors LLC acquired a new position in shares of Equity Bancshares during the first quarter worth approximately $39,000. CWM LLC boosted its holdings in Equity Bancshares by 311.5% during the first quarter. CWM LLC now owns 2,041 shares of the bank's stock worth $80,000 after purchasing an additional 1,545 shares during the last quarter. GAMMA Investing LLC lifted its stake in Equity Bancshares by 81,650.0% in the first quarter. GAMMA Investing LLC now owns 3,270 shares of the bank's stock valued at $129,000 after acquiring an additional 3,266 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Equity Bancshares in the first quarter valued at about $145,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Equity Bancshares in the fourth quarter valued at about $210,000. 71.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. DA Davidson raised their price target on shares of Equity Bancshares from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Keefe, Bruyette & Woods raised their target price on shares of Equity Bancshares from $45.00 to $47.00 and gave the company a "market perform" rating in a report on Thursday, September 4th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Equity Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $48.40.

Equity Bancshares Stock Down 0.7%

Shares of NASDAQ EQBK traded down $0.29 during trading on Friday, hitting $41.59. The stock had a trading volume of 103,004 shares, compared to its average volume of 76,874. The firm has a fifty day moving average of $40.18 and a two-hundred day moving average of $39.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $799.28 million, a PE ratio of 10.45 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.

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.