Equity Bancshares (NASDAQ:EQBK) Price Target Raised to $38.00

Equity Bancshares (NASDAQ:EQBK) had its target price raised by research analysts at Piper Sandler from $37.00 to $38.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 12.16% from the stock’s previous close.

Equity Bancshares Price Performance

Shares of NASDAQ EQBK opened at $33.88 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $32.54 and its 200 day moving average price is $30.66. Equity Bancshares has a 52 week low of $20.50 and a 52 week high of $34.99. The stock has a market cap of $523.04 million, a price-to-earnings ratio of 56.60 and a beta of 0.89.

Equity Bancshares (NASDAQ:EQBK) last announced its earnings results on Wednesday, January 24th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12. The company had revenue of ($3.95) million during the quarter, compared to analysts’ expectations of $47.67 million. Equity Bancshares had a net margin of 3.88% and a return on equity of 12.27%. As a group, research analysts forecast that Equity Bancshares will post 3.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Equity Bancshares news, CEO Brad S. Elliott sold 6,290 shares of Equity Bancshares stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $31.57, for a total transaction of $198,575.30. Following the completion of the transaction, the chief executive officer now owns 152,088 shares in the company, valued at $4,801,418.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Brad S. Elliott sold 6,290 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $31.57, for a total value of $198,575.30. Following the completion of the transaction, the chief executive officer now owns 152,088 shares of the company’s stock, valued at $4,801,418.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Julie A. Huber sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.14, for a total transaction of $33,747.00. Following the completion of the transaction, the executive vice president now directly owns 56,918 shares of the company’s stock, valued at approximately $1,829,344.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,478 shares of company stock worth $268,894. Insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Equity Bancshares

Several institutional investors have recently bought and sold shares of EQBK. SG Americas Securities LLC purchased a new stake in Equity Bancshares during the third quarter worth approximately $164,000. Denali Advisors LLC purchased a new stake in Equity Bancshares during the third quarter worth approximately $123,000. Barclays PLC grew its stake in Equity Bancshares by 60.9% during the third quarter. Barclays PLC now owns 14,143 shares of the bank’s stock worth $340,000 after buying an additional 5,352 shares during the period. Jackson Hole Capital Partners LLC purchased a new stake in Equity Bancshares during the third quarter worth approximately $210,000. Finally, Hsbc Holdings PLC purchased a new stake in Equity Bancshares during the third quarter worth approximately $202,000. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

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.