Wellington Management Group LLP Boosts Stock Position in Equity Bancshares, Inc. (NASDAQ:EQBK)

Wellington Management Group LLP raised its position in shares of Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 740.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 577,230 shares of the bank's stock after purchasing an additional 508,509 shares during the period. Wellington Management Group LLP owned about 3.30% of Equity Bancshares worth $24,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Equity Bancshares by 26.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,773 shares of the bank's stock valued at $924,000 after purchasing an additional 4,554 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Equity Bancshares by 5.3% during the fourth quarter. Two Sigma Advisers LP now owns 33,800 shares of the bank's stock valued at $1,434,000 after buying an additional 1,700 shares during the period. Two Sigma Investments LP increased its holdings in Equity Bancshares by 35.4% during the fourth quarter. Two Sigma Investments LP now owns 45,912 shares of the bank's stock valued at $1,948,000 after buying an additional 12,013 shares during the period. Millennium Management LLC raised its stake in Equity Bancshares by 10.5% in the fourth quarter. Millennium Management LLC now owns 21,007 shares of the bank's stock worth $891,000 after buying an additional 1,997 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $346,000 after buying an additional 322 shares during the period. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on Equity Bancshares from $46.00 to $44.00 and set a "market perform" rating on the stock in a report on Monday, April 7th. Janney Montgomery Scott started coverage on Equity Bancshares in a research note on Thursday, April 3rd. They issued a "neutral" rating on the stock. Piper Sandler reduced their target price on shares of Equity Bancshares from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, DA Davidson decreased their price target on shares of Equity Bancshares from $40.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.60.

Insider Activity at Equity Bancshares

In related news, COO Julie A. Huber sold 4,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $39.10, for a total transaction of $156,400.00. Following the sale, the chief operating officer now directly owns 57,688 shares of the company's stock, valued at $2,255,600.80. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is currently owned by insiders.

Equity Bancshares Stock Performance

NASDAQ EQBK traded down $0.52 on Wednesday, hitting $38.94. 53,153 shares of the company's stock traded hands, compared to its average volume of 57,738. The firm's 50-day moving average price is $38.35 and its two-hundred day moving average price is $41.66. The firm has a market capitalization of $682.03 million, a PE ratio of 9.78 and a beta of 0.75. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. Equity Bancshares, Inc. has a 1-year low of $32.24 and a 1-year high of $50.85.

Equity Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. Equity Bancshares's dividend payout ratio (DPR) is presently 15.27%.

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.