Equity Bancshares (NYSE:EQBK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Equity Bancshares (NYSE:EQBK) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

EQBK has been the subject of several other reports. Royal Bank Of Canada restated a “buy” rating on shares of Equity Bancshares in a report on Monday, June 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. DA Davidson lifted their price target on shares of Equity Bancshares from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings upgraded shares of Equity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Hovde Group increased their price objective on shares of Equity Bancshares from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Equity Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Equity Bancshares Trading Down 0.1%

Shares of NYSE EQBK opened at $50.90 on Friday. The company’s fifty day moving average is $50.10 and its 200-day moving average is $47.17. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 30.48 and a beta of 0.76. Equity Bancshares has a twelve month low of $38.60 and a twelve month high of $52.27. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58.

Equity Bancshares (NYSE:EQBK) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $1.41 EPS for the quarter, topping 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 return on equity of 13.34% and a net margin of 8.26%. Equities research analysts predict that Equity Bancshares will post 5.18 EPS for the current year.

Insider Buying and Selling at Equity Bancshares

In other Equity Bancshares news, CEO Brad S. Elliott sold 12,272 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $51.03, for a total value of $626,240.16. Following the sale, the chief executive officer owned 55,313 shares in the company, valued at approximately $2,822,622.39. The trade was a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Julie A. Huber sold 5,303 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $51.05, for a total value of $270,718.15. Following the transaction, the chief operating officer directly owned 62,009 shares of the company’s stock, valued at approximately $3,165,559.45. This trade represents a 7.88% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders purchased 4,989 shares of company stock valued at $250,919 and sold 26,186 shares valued at $1,331,626. Corporate insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its stake in Equity Bancshares by 282.0% in the 2nd 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. Public Employees Retirement System of Ohio bought a new position in shares of Equity Bancshares in the 2nd quarter valued at about $36,000. Royal Bank of Canada increased its position in shares of Equity Bancshares by 132.0% in the fourth quarter. Royal Bank of Canada now owns 972 shares of the company’s stock valued at $44,000 after acquiring an additional 553 shares during the last quarter. State of Wyoming acquired a new stake in shares of Equity Bancshares in the second quarter valued at about $59,000. Finally, Tower Research Capital LLC TRC raised its holdings in Equity Bancshares by 233.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock worth $79,000 after acquiring an additional 1,347 shares in the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

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.