Key Points
- Director Leon Borck purchased 380 shares of Equity Bancshares at an average price of $48.78, investing $18,536.40 and increasing his holdings to 96,320 shares.
- Equity Bancshares reported quarterly EPS of $1.40, beating estimates of $1.29, while revenue of $83.73 million fell slightly short of expectations. The company also raised its quarterly dividend to $0.22, implying a 1.9% yield.
- Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $53.67 compared with the stock’s reported opening price of $47.29.
Equity Bancshares, Inc. (NYSE:EQBK - Get Free Report) Director Leon Borck bought 380 shares of the stock in a transaction dated Monday, October 19th. The shares were purchased at an average cost of $48.78 per share, for a total transaction of $18,536.40. Following the completion of the purchase, the director owned 96,320 shares in the company, valued at approximately $4,698,489.60. This represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Equity Bancshares Price Performance
NYSE:EQBK opened at $47.29 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58. Equity Bancshares, Inc. has a 52 week low of $39.97 and a 52 week high of $52.27. The stock's 50-day moving average price is $49.06 and its 200-day moving average price is $47.93. The stock has a market capitalization of $973.62 million, a PE ratio of 8.96 and a beta of 0.80.
Equity Bancshares (NYSE:EQBK - Get Free Report) last released its quarterly earnings results on Wednesday, October 14th. The company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.11. The company had revenue of $83.73 million during the quarter, compared to analysts' expectations of $84.91 million. Equity Bancshares had a return on equity of 13.73% and a net margin of 20.34%. As a group, equities analysts expect that Equity Bancshares, Inc. will post 5.04 EPS for the current fiscal year.
Equity Bancshares Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Equity Bancshares's previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, September 30th. Equity Bancshares's dividend payout ratio (DPR) is presently 19.51%.
Institutional Trading of Equity Bancshares
Institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Equity Bancshares during the second quarter worth approximately $408,000. Engineers Gate Manager LP acquired a new position in Equity Bancshares in the 2nd quarter valued at $293,000. IFP Advisors Inc raised its stake in Equity Bancshares by 38,500.0% in the 2nd quarter. IFP Advisors Inc now owns 1,544 shares of the company's stock valued at $76,000 after purchasing an additional 1,540 shares during the last quarter. Arizona State Retirement System purchased a new position in Equity Bancshares in the 2nd quarter valued at $227,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Equity Bancshares in the 2nd quarter valued at $36,000. 71.80% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
EQBK has been the subject of several research analyst reports. Hovde Group upped their target price on Equity Bancshares from $51.00 to $53.00 and gave the stock a "market perform" rating in a research note on Friday, September 4th. Benchmark initiated coverage on shares of Equity Bancshares in a research report on Wednesday, June 24th. They issued a "buy" rating and a $57.00 target price on the stock. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Zacks Research upgraded shares of Equity Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 2nd. Finally, Royal Bank Of Canada reaffirmed a "buy" rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.67.
Check Out Our Latest Research Report on EQBK
Equity Bancshares Company Profile
(
Get Free Report)
Equity Bancshares, Inc is a bank holding company headquartered in Wichita, Kansas. Through its subsidiary, Equity Bank, the company provides community banking services to individuals, businesses, agricultural customers and public-sector organizations.
Equity Bank offers checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer financing, agricultural loans and commercial lines of credit. Its business banking services also include treasury management, cash management, electronic banking and other financial solutions designed to support operating and borrowing needs.
Founded in 2002, Equity Bancshares has expanded through organic growth and acquisitions.
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