Charles Schwab Investment Management Inc. Has $4.59 Million Holdings in Equity Bancshares, Inc. (NASDAQ:EQBK)

Charles Schwab Investment Management Inc. raised its holdings in shares of Equity Bancshares, Inc. (NASDAQ:EQBK) by 175.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,292 shares of the bank’s stock after purchasing an additional 71,547 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.74% of Equity Bancshares worth $4,590,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Mendon Capital Advisors Corp increased its position in Equity Bancshares by 2,539.9% during the 2nd quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock worth $12,320,000 after buying an additional 336,742 shares during the period. Foundry Partners LLC increased its position in shares of Equity Bancshares by 890.4% in the second quarter. Foundry Partners LLC now owns 104,985 shares of the bank’s stock worth $3,695,000 after purchasing an additional 94,385 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Equity Bancshares by 35.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 41,585 shares of the bank’s stock worth $1,464,000 after purchasing an additional 10,824 shares during the period. AQR Capital Management LLC acquired a new stake in Equity Bancshares in the second quarter valued at about $322,000. Finally, Triune Financial Partners LLC acquired a new stake in Equity Bancshares in the third quarter valued at about $268,000. Institutional investors and hedge funds own 71.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens raised 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. DA Davidson lifted their price target on Equity Bancshares from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods lifted their price target on Equity Bancshares from $43.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling at Equity Bancshares

In other news, CEO Brad S. Elliott sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.64, for a total transaction of $98,072.00. Following the transaction, the chief executive officer now directly owns 151,979 shares of the company’s stock, valued at $6,480,384.56. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.00% of the company’s stock.

Equity Bancshares Stock Performance

Shares of EQBK stock opened at $46.49 on Friday. The business’s 50 day simple moving average is $45.22 and its 200 day simple moving average is $40.19. Equity Bancshares, Inc. has a one year low of $30.44 and a one year high of $50.85. The stock has a market capitalization of $710.83 million, a PE ratio of 42.26 and a beta of 0.90. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86.

Equity Bancshares (NASDAQ:EQBK) last issued its quarterly earnings results on Tuesday, October 15th. The bank reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.32. Equity Bancshares had a return on equity of 13.53% and a net margin of 6.36%. The firm had revenue of $55.35 million for the quarter, compared to analyst estimates of $55.77 million. As a group, research analysts forecast that Equity Bancshares, Inc. will post 4.27 earnings per share for the current year.

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.