Equity Bancshares, Inc. (NYSE:EQBK) Short Interest Up 102.3% in June

Equity Bancshares, Inc. (NYSE:EQBK) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 739,835 shares, an increase of 102.3% from the June 15th total of 365,748 shares. Based on an average daily volume of 203,247 shares, the short-interest ratio is presently 3.6 days. Currently, 4.2% of the company’s shares are sold short.

Analyst Ratings Changes

A number of brokerages recently weighed in on EQBK. Weiss Ratings downgraded Equity Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. DA Davidson increased their price target on shares of 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 restated an “overweight” rating on shares of Equity Bancshares in a report on Monday, June 22nd. Benchmark initiated coverage on shares of Equity Bancshares in a research report on Wednesday, June 24th. They issued a “buy” rating and a $57.00 price objective on the stock. Finally, Hovde Group initiated coverage on shares of Equity Bancshares in a research note on Wednesday, June 10th. They set a “market perform” rating and a $51.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

Insider Activity at Equity Bancshares

In other news, General Counsel Brett A. Reber sold 1,686 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $47.85, for a total value of $80,675.10. Following the sale, the general counsel owned 34,495 shares of the company’s stock, valued at approximately $1,650,585.75. This represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donald Scott Rogerson acquired 2,000 shares of Equity Bancshares stock in a transaction on Wednesday, April 29th. The shares were purchased at an average price of $45.93 per share, for a total transaction of $91,860.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at $229,650. This trade represents a 66.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 14.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equity Bancshares

A number of large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its stake in Equity Bancshares by 0.6% during the 1st quarter. First Trust Advisors LP now owns 48,621 shares of the company’s stock valued at $2,159,000 after acquiring an additional 300 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Equity Bancshares by 0.7% during the 4th quarter. Russell Investments Group Ltd. now owns 51,640 shares of the company’s stock worth $2,306,000 after purchasing an additional 381 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Equity Bancshares by 5.6% in the third quarter. Intech Investment Management LLC now owns 7,306 shares of the company’s stock valued at $297,000 after purchasing an additional 388 shares in the last quarter. Mariner LLC increased its holdings in shares of Equity Bancshares by 5.4% in the fourth quarter. Mariner LLC now owns 9,516 shares of the company’s stock valued at $425,000 after purchasing an additional 486 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Equity Bancshares by 282.0% in the second quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock valued at $28,000 after purchasing an additional 502 shares during the last quarter. 71.80% of the stock is currently owned by institutional investors and hedge funds.

Equity Bancshares Stock Performance

EQBK stock traded down $1.07 during midday trading on Friday, reaching $50.43. The stock had a trading volume of 165,550 shares, compared to its average volume of 117,276. The firm has a fifty day simple moving average of $47.10 and a two-hundred day simple moving average of $46.06. Equity Bancshares has a 52-week low of $36.04 and a 52-week high of $51.73. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $1.04 billion, a PE ratio of 30.20 and a beta of 0.77.

Equity Bancshares (NYSE:EQBK) last released its quarterly earnings data on Tuesday, July 14th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.24 by $0.17. The business had revenue of $81.93 million for the quarter, compared to the consensus estimate of $85.10 million. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.67%. As a group, equities research analysts anticipate that Equity Bancshares will post 5.06 EPS for the current year.

Equity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.18 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. Equity Bancshares’s payout ratio is 43.11%.

About Equity Bancshares

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.