Acadian Asset Management LLC Sells 26,337 Shares of Equity Bancshares, Inc. (NASDAQ:EQBK)

Acadian Asset Management LLC decreased its stake in Equity Bancshares, Inc. (NASDAQ:EQBK) by 56.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,187 shares of the bank’s stock after selling 26,337 shares during the period. Acadian Asset Management LLC owned 0.13% of Equity Bancshares worth $710,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in EQBK. EntryPoint Capital LLC purchased a new stake in shares of Equity Bancshares during the 1st quarter worth approximately $42,000. BNP Paribas Financial Markets lifted its stake in shares of Equity Bancshares by 97.0% during the 1st quarter. BNP Paribas Financial Markets now owns 7,190 shares of the bank’s stock valued at $247,000 after buying an additional 3,541 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Equity Bancshares in the 4th quarter worth approximately $271,000. Quadrature Capital Ltd purchased a new position in Equity Bancshares in the 4th quarter valued at approximately $322,000. Finally, Foundry Partners LLC bought a new stake in Equity Bancshares during the 1st quarter valued at $364,000. Institutional investors own 71.80% of the company’s stock.

Equity Bancshares Price Performance

EQBK opened at $41.38 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $631.17 million, a P/E ratio of 68.97 and a beta of 0.90. The stock has a 50-day moving average price of $38.94 and a 200-day moving average price of $35.29. Equity Bancshares, Inc. has a 12-month low of $22.78 and a 12-month high of $42.28.

Equity Bancshares (NASDAQ:EQBK) last issued its quarterly earnings results on Tuesday, July 16th. The bank reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The business had revenue of $55.43 million for the quarter, compared to analysts’ expectations of $54.56 million. Equity Bancshares had a net margin of 3.75% and a return on equity of 12.43%. Equities analysts predict that Equity Bancshares, Inc. will post 4.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on EQBK. Keefe, Bruyette & Woods upped their target price on shares of Equity Bancshares from $38.00 to $41.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Stephens lifted their price target on Equity Bancshares from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Piper Sandler upped their price objective on shares of Equity Bancshares from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.00.

Insider Activity at Equity Bancshares

In other Equity Bancshares news, Director Gregory L. Gaeddert sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $40.99, for a total transaction of $245,940.00. Following the completion of the sale, the director now directly owns 17,167 shares in the company, valued at $703,675.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Equity Bancshares news, Director Gregory L. Gaeddert sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $40.99, for a total value of $245,940.00. Following the completion of the sale, the director now owns 17,167 shares in the company, valued at $703,675.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brad S. Elliott sold 24,801 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $40.64, for a total transaction of $1,007,912.64. Following the completion of the transaction, the chief executive officer now owns 151,616 shares in the company, valued at approximately $6,161,674.24. The disclosure for this sale can be found here. 8.00% of the stock is owned by insiders.

Equity Bancshares Company Profile

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.