Equity Bancshares, Inc. (NASDAQ:EQBK) Announces $0.10 Quarterly Dividend

Equity Bancshares, Inc. (NASDAQ:EQBKGet Rating) announced a quarterly dividend on Tuesday, September 20th, investing.com reports. Investors of record on Friday, September 30th will be paid a dividend of 0.10 per share by the bank on Friday, October 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, September 29th.

Equity Bancshares has a payout ratio of 9.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Equity Bancshares to earn $3.38 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 9.5%.

Equity Bancshares Price Performance

Shares of NASDAQ:EQBK opened at $31.30 on Thursday. Equity Bancshares has a fifty-two week low of $28.06 and a fifty-two week high of $36.00. The stock has a market capitalization of $503.62 million, a P/E ratio of 9.54 and a beta of 0.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50-day moving average of $31.30 and a two-hundred day moving average of $31.22.

Equity Bancshares (NASDAQ:EQBKGet Rating) last announced its quarterly earnings data on Tuesday, July 19th. The bank reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.17. The business had revenue of $49.20 million during the quarter, compared to analyst estimates of $47.21 million. Equity Bancshares had a net margin of 25.90% and a return on equity of 13.77%. During the same quarter in the prior year, the business earned $1.09 earnings per share. On average, equities research analysts predict that Equity Bancshares will post 3.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EQBK has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Equity Bancshares from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, June 17th. DA Davidson increased their price objective on Equity Bancshares to $33.00 in a research report on Friday, July 22nd. Stephens upped their price target on Equity Bancshares to $37.00 in a research note on Tuesday, August 23rd. Finally, StockNews.com raised Equity Bancshares from a “hold” rating to a “buy” rating in a report on Friday, August 12th.

Insider Activity at Equity Bancshares

In related news, COO Gregory H. Kossover sold 5,000 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $33.53, for a total value of $167,650.00. Following the transaction, the chief operating officer now directly owns 66,449 shares in the company, valued at approximately $2,228,034.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Julie A. Huber sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $30.77, for a total transaction of $292,315.00. Following the sale, the executive vice president now directly owns 46,978 shares in the company, valued at approximately $1,445,513.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gregory H. Kossover sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $33.53, for a total transaction of $167,650.00. Following the sale, the chief operating officer now owns 66,449 shares in the company, valued at $2,228,034.97. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Institutional Trading of Equity Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in Equity Bancshares by 0.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,368,428 shares of the bank’s stock worth $39,903,000 after acquiring an additional 9,648 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Equity Bancshares by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 680,155 shares of the bank’s stock valued at $21,976,000 after acquiring an additional 20,950 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Equity Bancshares by 0.4% in the first quarter. The Manufacturers Life Insurance Company now owns 461,579 shares of the bank’s stock worth $14,914,000 after buying an additional 1,746 shares in the last quarter. State Street Corp boosted its position in shares of Equity Bancshares by 5.0% during the 2nd quarter. State Street Corp now owns 284,000 shares of the bank’s stock valued at $8,304,000 after acquiring an additional 13,500 shares during the last quarter. Finally, EJF Capital LLC lifted its position in Equity Bancshares by 18.5% in the first quarter. EJF Capital LLC now owns 270,955 shares of the bank’s stock worth $8,755,000 after buying an additional 42,234 shares during the last quarter. Hedge funds and other institutional investors own 62.29% of the company’s stock.

Equity Bancshares Company Profile

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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.

Further Reading

Dividend History for Equity Bancshares (NASDAQ:EQBK)

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