Equity Bancshares, Inc. (EQBK) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Equity Bancshares, Inc. (NASDAQ:EQBK) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Equity Bancshares, Inc. operates as a bank holding company primarily in Kansas and Missouri. The company provides financial services primarily to businesses, business owners and individuals. It offers certificates of deposits, individual retirement and money market accounts, home equity lines of credit, credit cards, mortgages, treasury management, personal and business loans, investment services. Equity Bancshares, Inc. is headquartered in Wichita, Kansas. “

EQBK has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated a buy rating and issued a $41.00 target price on shares of Equity Bancshares in a report on Tuesday, October 3rd. ValuEngine downgraded shares of Equity Bancshares from a buy rating to a hold rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $31.67.

Equity Bancshares (NASDAQ:EQBK) traded up $0.07 during mid-day trading on Tuesday, hitting $34.10. 29,271 shares of the company traded hands, compared to its average volume of 43,328. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market cap of $419.01 million, a price-to-earnings ratio of 19.03 and a beta of 1.05.

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In related news, CEO Brad S. Elliott sold 4,000 shares of Equity Bancshares stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $34.00, for a total value of $136,000.00. Following the transaction, the chief executive officer now owns 200,933 shares in the company, valued at approximately $6,831,722. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brad S. Elliott sold 10,000 shares of Equity Bancshares stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. Following the completion of the transaction, the chief executive officer now owns 201,933 shares in the company, valued at approximately $6,865,722. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $816,000 in the last quarter. Insiders own 14.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commerce Bank raised its holdings in Equity Bancshares by 27.4% in the 2nd quarter. Commerce Bank now owns 69,821 shares of the bank’s stock worth $2,139,000 after acquiring an additional 15,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Equity Bancshares by 79.5% during the 1st quarter. Vanguard Group Inc. now owns 228,337 shares of the bank’s stock worth $7,254,000 after purchasing an additional 101,113 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Equity Bancshares during the 1st quarter worth about $1,120,000. Geode Capital Management LLC increased its holdings in shares of Equity Bancshares by 39.3% during the 1st quarter. Geode Capital Management LLC now owns 45,936 shares of the bank’s stock worth $1,459,000 after purchasing an additional 12,957 shares during the period. Finally, Cetera Investment Advisers bought a new position in shares of Equity Bancshares during the 2nd quarter worth about $1,201,000. Hedge funds and other institutional investors own 57.62% of the company’s stock.

Equity Bancshares Company Profile

Equity Bancshares, Inc is a bank holding company. The Company’s principal activity is the ownership and management of its subsidiary, Equity Bank (the Bank). The Bank provides a range of financial services primarily to businesses and business owners, as well as individuals through its network of over 30 branches located in Kansas and Missouri.

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