Equity Bancshares (NASDAQ:EQBK) Price Target Raised to $38.00 at Piper Sandler

Equity Bancshares (NASDAQ:EQBK) had its price objective raised by Piper Sandler from $37.00 to $38.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Equity Bancshares Trading Up 4.2 %

Shares of Equity Bancshares stock opened at $34.29 on Tuesday. The stock has a market cap of $529.44 million, a P/E ratio of 57.12 and a beta of 0.89. The stock’s 50 day simple moving average is $32.49 and its 200-day simple moving average is $30.59. Equity Bancshares has a 1-year low of $20.50 and a 1-year high of $34.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.87.

Equity Bancshares (NASDAQ:EQBK) last announced its earnings results on Wednesday, January 24th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12. The company had revenue of ($3.95) million for the quarter, compared to analyst estimates of $47.67 million. Equity Bancshares had a return on equity of 12.27% and a net margin of 3.88%. Analysts predict that Equity Bancshares will post 3.74 EPS for the current fiscal year.

Equity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, March 27th. Equity Bancshares’s payout ratio is 80.00%.

Insider Transactions at Equity Bancshares

In other news, CEO Brad S. Elliott sold 6,290 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $31.57, for a total transaction of $198,575.30. Following the sale, the chief executive officer now owns 152,088 shares of the company’s stock, valued at $4,801,418.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Brad S. Elliott sold 6,290 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $31.57, for a total transaction of $198,575.30. Following the sale, the chief executive officer now owns 152,088 shares of the company’s stock, valued at $4,801,418.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Julie A. Huber sold 1,050 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $32.14, for a total value of $33,747.00. Following the sale, the executive vice president now directly owns 56,918 shares in the company, valued at approximately $1,829,344.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,478 shares of company stock valued at $268,894. 8.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equity Bancshares

Large investors have recently bought and sold shares of the business. Rocky Mountain Advisers LLC purchased a new position in Equity Bancshares in the fourth quarter valued at $69,000. Tower Research Capital LLC TRC increased its holdings in Equity Bancshares by 530.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,756 shares of the bank’s stock valued at $93,000 after buying an additional 2,319 shares during the last quarter. Denali Advisors LLC purchased a new position in Equity Bancshares in the third quarter valued at $123,000. SG Americas Securities LLC purchased a new position in Equity Bancshares in the third quarter valued at $164,000. Finally, Teacher Retirement System of Texas purchased a new position in Equity Bancshares in the fourth quarter valued at $271,000. Hedge funds and other institutional investors own 71.80% of the company’s stock.

About Equity Bancshares

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.