DA Davidson Boosts Equity Bancshares (NASDAQ:EQBK) Price Target to $45.00

Equity Bancshares (NASDAQ:EQBK) had its price target increased by DA Davidson from $42.00 to $45.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Equity Bancshares’ Q4 2024 earnings at $0.93 EPS.

Other equities analysts have also recently issued reports about the stock. Stephens raised shares of Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Monday, October 14th. Keefe, Bruyette & Woods lifted their target price on shares of Equity Bancshares from $38.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Equity Bancshares Stock Performance

NASDAQ:EQBK opened at $43.82 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. Equity Bancshares has a fifty-two week low of $22.78 and a fifty-two week high of $45.60. The stock has a market cap of $668.39 million, a PE ratio of 73.03 and a beta of 0.89. The firm’s fifty day simple moving average is $40.13 and its 200-day simple moving average is $36.74.

Equity Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Equity Bancshares’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.37%. Equity Bancshares’s payout ratio is 100.00%.

Insider Activity

In other news, Director Leon Borck bought 1,467 shares of the stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $38.77 per share, with a total value of $56,875.59. Following the purchase, the director now owns 11,941 shares of the company’s stock, valued at approximately $462,952.57. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, Director Gregory L. Gaeddert sold 6,000 shares of the 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 transaction, the director now directly owns 17,167 shares in the company, valued at $703,675.33. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leon Borck bought 1,467 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $38.77 per share, for a total transaction of $56,875.59. Following the completion of the transaction, the director now directly owns 11,941 shares of the company’s stock, valued at approximately $462,952.57. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Equity Bancshares

A number of large investors have recently bought and sold shares of EQBK. Creative Planning boosted its holdings in shares of Equity Bancshares by 4.4% in the 3rd quarter. Creative Planning now owns 80,133 shares of the bank’s stock valued at $3,276,000 after purchasing an additional 3,399 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Equity Bancshares by 74.1% in the 3rd quarter. SG Americas Securities LLC now owns 5,052 shares of the bank’s stock valued at $207,000 after purchasing an additional 2,150 shares during the last quarter. Mendon Capital Advisors Corp lifted its holdings in shares of Equity Bancshares by 2,539.9% during the 2nd quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock valued at $12,320,000 after acquiring an additional 336,742 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Equity Bancshares during the 2nd quarter valued at $322,000. Finally, ELCO Management Co. LLC lifted its holdings in shares of Equity Bancshares by 3.1% during the 2nd quarter. ELCO Management Co. LLC now owns 13,673 shares of the bank’s stock valued at $481,000 after acquiring an additional 415 shares in the last quarter. Hedge funds and other institutional investors own 71.80% of the company’s stock.

About Equity Bancshares

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.