Equity BancShares (NASDAQ:EQBK) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Equity BancShares (NASDAQ:EQBK) from a hold rating to a sell rating in a research note released on Monday, Zacks.com reports.

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 subject of a number of other research reports. ValuEngine raised Equity BancShares from a sell rating to a hold rating in a research report on Wednesday, December 11th. TheStreet upgraded Equity BancShares from a c+ rating to a b- rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods lowered Equity BancShares from an outperform rating to a market perform rating in a research note on Friday, January 3rd. Finally, BidaskClub raised Equity BancShares from a hold rating to a buy rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Equity BancShares presently has a consensus rating of Hold and an average price target of $30.00.

Shares of EQBK traded up $0.54 during mid-day trading on Monday, reaching $28.64. The company had a trading volume of 4,819 shares, compared to its average volume of 42,204. Equity BancShares has a fifty-two week low of $22.75 and a fifty-two week high of $35.30. The firm has a fifty day simple moving average of $29.96 and a 200-day simple moving average of $27.54. The stock has a market cap of $439.94 million, a price-to-earnings ratio of 10.85 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94.

Equity BancShares (NASDAQ:EQBK) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $38.10 million during the quarter. Equity BancShares had a return on equity of 8.41% and a net margin of 12.63%. As a group, equities analysts predict that Equity BancShares will post 2.36 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY raised its stake in shares of Equity BancShares by 26.3% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 5,369 shares of the bank’s stock valued at $144,000 after acquiring an additional 1,118 shares during the period. Millennium Management LLC acquired a new stake in Equity BancShares in the 3rd quarter valued at $1,976,000. First Trust Advisors LP increased its holdings in Equity BancShares by 10.7% in the 3rd quarter. First Trust Advisors LP now owns 41,180 shares of the bank’s stock valued at $1,104,000 after purchasing an additional 3,975 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Equity BancShares in the 3rd quarter valued at $211,000. Finally, Rhumbline Advisers raised its position in Equity BancShares by 8.8% in the third quarter. Rhumbline Advisers now owns 22,995 shares of the bank’s stock valued at $616,000 after purchasing an additional 1,866 shares during the period. 68.75% of the stock is currently owned by hedge funds and other institutional investors.

Equity BancShares Company Profile

Equity Bancshares, Inc operates as a bank holding company for Equity Bank that provides a range of financial services primarily to businesses, business owners, and individuals. The company accepts various deposit products, including 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 loans, homebuilder, agricultural, government guaranteed, and other loans, as well as letters of credit to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses.

Featured Article: Learning About the VIX – Volatility Index

Get a free copy of the Zacks research report on Equity BancShares (EQBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Equity BancShares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity BancShares and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit