Equity Bancshares (NASDAQ:EQBK) Price Target Lowered to $46.00 at DA Davidson

Equity Bancshares (NASDAQ:EQBK) had its target price decreased by DA Davidson from $50.00 to $46.00 in a research note issued to investors on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock.

A number of other analysts also recently commented on EQBK. Keefe, Bruyette & Woods boosted their price objective on Equity Bancshares from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Stephens upgraded shares of Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research report on Monday, October 14th. Finally, Hovde Group raised their price objective on shares of Equity Bancshares from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Equity Bancshares Trading Down 0.2 %

Shares of NASDAQ:EQBK opened at $43.27 on Thursday. The company has a 50 day moving average of $44.65 and a 200-day moving average of $42.10. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. The firm has a market cap of $661.55 million, a P/E ratio of 10.87 and a beta of 0.92. Equity Bancshares has a twelve month low of $30.44 and a twelve month high of $50.85.

Equity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 1.39%. Equity Bancshares’s payout ratio is presently 15.08%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Foundry Partners LLC lifted its position in shares of Equity Bancshares by 13.8% in the 3rd quarter. Foundry Partners LLC now owns 119,525 shares of the bank’s stock valued at $4,886,000 after acquiring an additional 14,540 shares in the last quarter. Barclays PLC lifted its holdings in shares of Equity Bancshares by 247.2% in the third quarter. Barclays PLC now owns 23,308 shares of the bank’s stock valued at $953,000 after purchasing an additional 16,595 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Equity Bancshares by 175.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 112,292 shares of the bank’s stock worth $4,590,000 after buying an additional 71,547 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Equity Bancshares by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 360,457 shares of the bank’s stock valued at $14,735,000 after buying an additional 17,431 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Equity Bancshares during the third quarter valued at $2,809,000. 71.80% of the stock is currently owned by institutional investors and hedge funds.

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.