StockNews.com Downgrades Equity Bancshares (NASDAQ:EQBK) to Hold

Equity Bancshares (NASDAQ:EQBKGet Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other research analysts have also recently weighed in on EQBK. Piper Sandler cut their price objective on shares of Equity Bancshares from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, June 17th. DA Davidson boosted their price target on shares of Equity Bancshares to $33.00 in a research report on Friday, July 22nd. Finally, Stephens boosted their target price on shares of Equity Bancshares to $34.00 in a report on Friday, July 22nd.

Equity Bancshares Stock Performance

Shares of NASDAQ:EQBK opened at $31.67 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50 day simple moving average is $30.62 and its 200-day simple moving average is $31.40. Equity Bancshares has a one year low of $28.06 and a one year high of $36.00. The firm has a market cap of $515.46 million, a PE ratio of 9.66 and a beta of 0.74.

Equity Bancshares (NASDAQ:EQBKGet Rating) last announced its earnings results on Tuesday, July 19th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.20. Equity Bancshares had a net margin of 25.90% and a return on equity of 13.55%. During the same period in the prior year, the business earned $1.09 earnings per share. As a group, equities analysts predict that Equity Bancshares will post 3.42 EPS for the current year.

Insider Transactions at Equity Bancshares

In other news, EVP Julie A. Huber sold 9,500 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $30.77, for a total value of $292,315.00. Following the completion of the transaction, the executive vice president now owns 46,978 shares in the company, valued at approximately $1,445,513.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equity Bancshares news, insider Tina Marie Call sold 2,903 shares of Equity Bancshares stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $31.96, for a total transaction of $92,779.88. Following the transaction, the insider now directly owns 7,220 shares of the company’s stock, valued at $230,751.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Julie A. Huber sold 9,500 shares of Equity Bancshares stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $30.77, for a total transaction of $292,315.00. Following the transaction, the executive vice president now directly owns 46,978 shares in the company, valued at $1,445,513.06. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Equity Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank acquired a new position in shares of Equity Bancshares during the first quarter valued at $53,000. IMA Wealth Inc. bought a new stake in Equity Bancshares during the fourth quarter worth approximately $109,000. SG Americas Securities LLC bought a new stake in Equity Bancshares during the second quarter worth approximately $158,000. Zebra Capital Management LLC bought a new stake in shares of Equity Bancshares in the first quarter valued at approximately $202,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Equity Bancshares in the fourth quarter valued at $222,000. Institutional investors own 59.08% of the company’s stock.

Equity Bancshares Company Profile

(Get Rating)

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-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses.

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