Equity Bancshares (NYSE:EQBK) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Equity Bancshares (NYSE:EQBK) released its quarterly earnings data on Tuesday. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.17, FiscalAI reports. Equity Bancshares had a return on equity of 12.85% and a net margin of 6.15%.

Equity Bancshares Price Performance

Equity Bancshares stock traded down $0.08 during trading hours on Tuesday, reaching $48.77. 150,456 shares of the stock were exchanged, compared to its average volume of 114,952. Equity Bancshares has a twelve month low of $36.04 and a twelve month high of $51.48. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average of $46.87 and a two-hundred day moving average of $45.98. The company has a market cap of $1.01 billion, a P/E ratio of 38.71 and a beta of 0.77.

Equity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, June 30th. Equity Bancshares’s dividend payout ratio is presently 57.14%.

Analysts Set New Price Targets

A number of analysts recently weighed in on EQBK shares. Benchmark assumed coverage on shares of Equity Bancshares in a research report on Wednesday, June 24th. They issued a “buy” rating and a $57.00 price target on the stock. Royal Bank Of Canada reiterated a “buy” rating on shares of Equity Bancshares in a report on Monday, June 22nd. DA Davidson boosted their price objective on Equity Bancshares from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. Piper Sandler reissued an “overweight” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Equity Bancshares in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.20.

Insider Activity

In other news, Director Donald Scott Rogerson bought 2,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was acquired at an average price of $45.93 per share, with a total value of $91,860.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $229,650. This trade represents a 66.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brett A. Reber sold 1,686 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $47.85, for a total transaction of $80,675.10. Following the completion of the transaction, the general counsel directly owned 34,495 shares in the company, valued at $1,650,585.75. This trade represents a 4.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 14.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equity Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in shares of Equity Bancshares by 282.0% during the second quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock valued at $28,000 after buying an additional 502 shares during the last quarter. Royal Bank of Canada grew its stake in Equity Bancshares by 132.0% in the 4th quarter. Royal Bank of Canada now owns 972 shares of the company’s stock worth $44,000 after acquiring an additional 553 shares in the last quarter. State of Wyoming bought a new stake in Equity Bancshares during the 2nd quarter valued at $59,000. Tower Research Capital LLC TRC increased its holdings in shares of Equity Bancshares by 233.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock valued at $79,000 after purchasing an additional 1,347 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Equity Bancshares by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 2,189 shares of the company’s stock worth $89,000 after acquiring an additional 547 shares during the last quarter. 71.80% of the stock is currently owned by institutional investors.

Equity Bancshares Company Profile

Equity Bancshares, Inc is the bank holding company for Equity Bank, a regional financial services provider headquartered in Wichita, Kansas. As a publicly traded company on the New York Stock Exchange under the ticker EQBK, Equity Bancshares operates a network of branches and lending offices across Kansas, Missouri, Oklahoma, Illinois and Colorado. Its geographic footprint spans both urban and rural markets, reflecting a focus on supporting small businesses, agricultural enterprises and individual consumers throughout the Midwest.

The company’s core business activities encompass a full spectrum of commercial and consumer banking services.