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

StockNews.com downgraded shares of Equity Bancshares (NASDAQ:EQBKGet Rating) from a buy rating to a hold rating in a research note published on Friday.

Separately, Zacks Investment Research raised Equity Bancshares from a hold rating to a strong-buy rating and set a $36.00 price objective on the stock in a research note on Tuesday, May 3rd.

EQBK opened at $30.29 on Friday. The stock has a market cap of $493.00 million, a PE ratio of 8.99 and a beta of 0.71. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.32. Equity Bancshares has a 52 week low of $28.01 and a 52 week high of $36.00. The business’s fifty day simple moving average is $31.60 and its 200 day simple moving average is $32.57.

Equity Bancshares (NASDAQ:EQBKGet Rating) last released its earnings results on Tuesday, April 19th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.30. Equity Bancshares had a return on equity of 14.14% and a net margin of 26.61%. During the same period in the previous year, the firm earned $0.65 EPS. As a group, equities analysts anticipate that Equity Bancshares will post 3.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. Equity Bancshares’s dividend payout ratio (DPR) is currently 9.50%.

In other Equity Bancshares news, Director Gregory L. Gaeddert sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $32.79, for a total value of $65,580.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings in shares of Equity Bancshares by 663.1% during the third quarter. UBS Group AG now owns 992 shares of the bank’s stock valued at $33,000 after purchasing an additional 862 shares during the last quarter. Citigroup Inc. increased its position in shares of Equity Bancshares by 130.8% during the third quarter. Citigroup Inc. now owns 1,482 shares of the bank’s stock valued at $49,000 after acquiring an additional 840 shares in the last quarter. IMA Wealth Inc. bought a new stake in shares of Equity Bancshares during the fourth quarter valued at approximately $109,000. BNP Paribas Arbitrage SA increased its position in shares of Equity Bancshares by 108.6% during the third quarter. BNP Paribas Arbitrage SA now owns 3,475 shares of the bank’s stock valued at $116,000 after acquiring an additional 1,809 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Equity Bancshares by 16.4% during the third quarter. Royal Bank of Canada now owns 5,849 shares of the bank’s stock valued at $196,000 after acquiring an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 59.08% of the company’s stock.

About Equity Bancshares (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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