Equity Bancshares (NASDAQ:EQBK) Stock Price Down 12.4%

Shares of Equity Bancshares, Inc. (NASDAQ:EQBK) fell 12.4% during mid-day trading on Monday . The company traded as low as $32.95 and last traded at $32.95. 577 shares changed hands during trading, a decline of 99% from the average session volume of 51,145 shares. The stock had previously closed at $37.62.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Equity Bancshares from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Stephens upped their target price on shares of Equity Bancshares from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Equity Bancshares from $38.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.00.

Equity Bancshares Stock Down 4.5 %

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50-day moving average is $35.78 and its two-hundred day moving average is $33.97. The company has a market cap of $548.09 million, a P/E ratio of 62.70 and a beta of 0.90.

Equity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, June 28th. Equity Bancshares’s dividend payout ratio is currently 80.00%.

Insider Buying and Selling

In other Equity Bancshares news, Director Junetta M. Everett purchased 2,903 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $34.50 per share, for a total transaction of $100,153.50. Following the purchase, the director now directly owns 9,813 shares of the company’s stock, valued at approximately $338,548.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Junetta M. Everett acquired 2,903 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $34.50 per share, for a total transaction of $100,153.50. Following the transaction, the director now directly owns 9,813 shares of the company’s stock, valued at $338,548.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brad S. Elliott sold 24,801 shares of Equity Bancshares stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $40.64, for a total transaction of $1,007,912.64. Following the completion of the sale, the chief executive officer now owns 151,616 shares in the company, valued at $6,161,674.24. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Equity Bancshares

Large investors have recently made changes to their positions in the business. Mendon Capital Advisors Corp purchased a new position in shares of Equity Bancshares during the 4th quarter worth about $14,694,000. LSV Asset Management purchased a new position in shares of Equity Bancshares during the 4th quarter worth about $3,061,000. Petiole USA ltd purchased a new position in shares of Equity Bancshares during the 4th quarter worth about $1,945,000. Dimensional Fund Advisors LP boosted its stake in shares of Equity Bancshares by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 754,999 shares of the bank’s stock worth $25,595,000 after purchasing an additional 30,253 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Equity Bancshares during the 4th quarter worth about $449,000. 71.80% of the stock is currently owned by 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.