T. Rowe Price Investment Management Inc. Increases Stake in Equity Bancshares, Inc. (NASDAQ:EQBK)

T. Rowe Price Investment Management Inc. boosted its stake in shares of Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,528,145 shares of the bank's stock after acquiring an additional 153,528 shares during the period. T. Rowe Price Investment Management Inc. owned 9.99% of Equity Bancshares worth $64,824,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Equity Bancshares by 247.2% in the 3rd quarter. Barclays PLC now owns 23,308 shares of the bank's stock valued at $953,000 after purchasing an additional 16,595 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Equity Bancshares by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 360,457 shares of the bank's stock valued at $14,735,000 after purchasing an additional 17,431 shares during the last quarter. Endeavour Capital Advisors Inc. bought a new position in shares of Equity Bancshares in the 4th quarter valued at $1,374,000. ELCO Management Co. LLC grew its position in Equity Bancshares by 202.8% during the 4th quarter. ELCO Management Co. LLC now owns 30,279 shares of the bank's stock worth $1,284,000 after acquiring an additional 20,279 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Equity Bancshares during the 4th quarter worth $703,000. Institutional investors own 71.80% of the company's stock.

Equity Bancshares Stock Up 0.1 %

EQBK stock traded up $0.03 during trading on Thursday, reaching $38.52. 12,100 shares of the stock were exchanged, compared to its average volume of 56,350. The firm's 50 day moving average is $38.84 and its 200 day moving average is $42.46. Equity Bancshares, Inc. has a twelve month low of $31.75 and a twelve month high of $50.85. 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 firm has a market cap of $674.36 million, a P/E ratio of 9.69 and a beta of 0.73.

Equity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Monday, March 31st. Equity Bancshares's payout ratio is currently 15.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler reduced their price objective on Equity Bancshares from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Stephens cut their target price on Equity Bancshares from $52.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Janney Montgomery Scott started coverage on Equity Bancshares in a report on Thursday, April 3rd. They set a "neutral" rating on the stock. Keefe, Bruyette & Woods cut their target price 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. Finally, Hovde Group boosted their price objective on Equity Bancshares from $56.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.60.

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.