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-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses. The company's loan products also comprise various consumer loans to individuals and professionals, including residential real estate loans, home equity loans and lines of credit, installment loans, unsecured and secured personal lines of credit, overdraft protection, and letters of credit. It also provides debit cards; online banking solutions, such as access to account balances, online transfers, online bill payment, and electronic delivery of customer statements; mobile banking solutions comprising remote check deposits with mobile bill pay; ATMs; and treasury management, wire transfer, automated clearing house, and stop payment services. In addition, the company offers cash management deposit products, such as lockbox, remote deposit capture, positive pay, reverse positive pay, account reconciliation services, zero balance accounts, and sweep accounts, as well as banking services through telephone, mail, and personal appointments. As of December 31, 2021, it operated a network of 69 branches in Arkansas, Kansas, Missouri, and Oklahoma. The company was founded in 2002 and is headquartered in Wichita, Kansas.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on EQBK shares. Stephens upped their price target on Equity Bancshares to $34.00 in a research note on Friday, July 22nd. DA Davidson upped their price target on Equity Bancshares to $33.00 in a research note on Friday, July 22nd. StockNews.com raised Equity Bancshares from a "hold" rating to a "buy" rating in a research note on Friday, August 12th. Finally, Piper Sandler dropped their target price on Equity Bancshares from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Friday, June 17th.
Equity Bancshares Trading Down 0.7 %
Equity Bancshares stock opened at $33.58 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The business's fifty day simple moving average is $30.74 and its two-hundred day simple moving average is $31.38. Equity Bancshares has a 12 month low of $28.06 and a 12 month high of $36.00. The company has a market capitalization of $540.34 million, a price-to-earnings ratio of 10.24 and a beta of 0.74.
Equity Bancshares (NASDAQ:EQBK - Get Rating) last released its earnings results on Tuesday, July 19th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.74 by $0.20. Equity Bancshares had a return on equity of 13.77% and a net margin of 25.90%. During the same period in the prior year, the business earned $1.09 EPS. As a group, equities analysts predict that Equity Bancshares will post 3.48 earnings per share for the current fiscal year.
Equity Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 14th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, June 29th. Equity Bancshares's payout ratio is currently 9.76%.
Insider Activity
In other news, insider Tina Marie Call sold 2,903 shares of the company's stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $31.96, for a total transaction of $92,779.88. Following the transaction, the insider now directly owns 7,220 shares of the company's stock, valued at $230,751.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Tina Marie Call sold 2,903 shares of the company's stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $31.96, for a total transaction of $92,779.88. Following the transaction, the insider now directly owns 7,220 shares of the company's stock, valued at $230,751.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Julie A. Huber sold 9,500 shares of the company's stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $30.77, for a total value of $292,315.00. Following the transaction, the executive vice president now directly owns 46,978 shares in the company, valued at $1,445,513.06. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company's stock.
