The Manufacturers Life Insurance Company Grows Position in Equity Bancshares, Inc. (NASDAQ:EQBK)

The Manufacturers Life Insurance Company increased its position in Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,732 shares of the bank's stock after buying an additional 45,962 shares during the quarter. The Manufacturers Life Insurance Company owned 2.48% of Equity Bancshares worth $16,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of EQBK. R Squared Ltd bought a new stake in shares of Equity Bancshares in the 4th quarter worth approximately $54,000. Aquatic Capital Management LLC purchased a new stake in Equity Bancshares during the fourth quarter valued at about $98,000. Quantbot Technologies LP boosted its position in Equity Bancshares by 139.9% during the fourth quarter. Quantbot Technologies LP now owns 2,725 shares of the bank's stock valued at $116,000 after buying an additional 1,589 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Equity Bancshares in the fourth quarter worth about $119,000. Finally, AlphaQuest LLC bought a new stake in shares of Equity Bancshares in the 4th quarter valued at about $160,000. Institutional investors own 71.80% of the company's stock.

Insider Buying and Selling at Equity Bancshares

In other Equity Bancshares news, COO Julie A. Huber sold 4,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $39.10, for a total transaction of $156,400.00. Following the completion of the sale, the chief operating officer now directly owns 57,688 shares in the company, valued at approximately $2,255,600.80. This trade represents a 6.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on EQBK. Stephens dropped their target price on shares of Equity Bancshares from $52.00 to $49.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Janney Montgomery Scott initiated coverage on Equity Bancshares in a research note on Thursday, April 3rd. They issued a "neutral" rating for the company. Piper Sandler reduced their price objective on shares of Equity Bancshares from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Hovde Group raised their target price on shares of Equity Bancshares from $56.00 to $57.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, DA Davidson reduced their price target on shares of Equity Bancshares from $40.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Equity Bancshares has an average rating of "Moderate Buy" and an average target price of $46.60.

Equity Bancshares Stock Down 1.1 %

Shares of NASDAQ:EQBK traded down $0.44 during midday trading on Friday, reaching $39.35. The company's stock had a trading volume of 8,694 shares, compared to its average volume of 56,688. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $38.44 and a 200-day moving average of $42.30. The firm has a market capitalization of $688.98 million, a P/E ratio of 9.89 and a beta of 0.75. Equity Bancshares, Inc. has a 12-month low of $31.75 and a 12-month high of $50.85.

Equity Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, March 31st. Equity Bancshares's dividend payout ratio is 15.27%.

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.