Mendon Capital Advisors Corp Sells 6,231 Shares of Equity Bancshares, Inc. $EQBK

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 lessened its stake in shares of Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure 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 approximately 7.7% of Mendon Capital Advisors Corp's investment portfolio, making the stock its largest holding. Mendon Capital Advisors Corp owned 2.27% of Equity Bancshares worth $15,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQBK. Bellwether Advisors LLC bought a new stake in Equity Bancshares in the first quarter valued at approximately $39,000. CWM LLC raised its stake in Equity Bancshares by 311.5% in the first quarter. CWM LLC now owns 2,041 shares of the bank's stock valued at $80,000 after buying an additional 1,545 shares during the period. GAMMA Investing LLC raised 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 buying an additional 3,266 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Equity Bancshares in the first quarter valued at approximately $145,000. Finally, Brevan Howard Capital Management LP bought a new stake in Equity Bancshares in the fourth quarter valued at approximately $210,000. Institutional investors own 71.80% of the company's stock.

Analysts Set New Price Targets

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

Equity Bancshares Price Performance

NASDAQ:EQBK traded down $0.50 during trading hours on Monday, reaching $41.11. 22,522 shares of the company were exchanged, compared to its average volume of 76,557. The company has a market capitalization of $790.13 million, a P/E ratio of 10.33 and a beta of 0.83. Equity Bancshares, Inc. has a 1-year low of $34.11 and a 1-year high of $50.85. 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 business has a 50 day moving average of $40.18 and a 200 day moving average of $39.55.

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.