Janney Montgomery Scott Begins Coverage on Equity Bancshares (NASDAQ:EQBK)

Janney Montgomery Scott initiated coverage on shares of Equity Bancshares (NASDAQ:EQBK) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “neutral” rating on the bank’s stock.

A number of other brokerages also recently issued reports on EQBK. DA Davidson decreased their price target on Equity Bancshares from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Stephens dropped their target price on Equity Bancshares from $52.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Hovde Group upped their price target on Equity Bancshares from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on Equity Bancshares from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.00.

Equity Bancshares Stock Performance

NASDAQ EQBK opened at $35.89 on Thursday. The firm has a market capitalization of $628.31 million, a P/E ratio of 9.02 and a beta of 0.73. The stock has a 50-day simple moving average of $41.63 and a two-hundred day simple moving average of $42.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.86. Equity Bancshares has a fifty-two week low of $30.44 and a fifty-two week high of $50.85.

Institutional Investors Weigh In On Equity Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in EQBK. Wellington Management Group LLP grew its holdings in Equity Bancshares by 740.0% in the 4th quarter. Wellington Management Group LLP now owns 577,230 shares of the bank’s stock valued at $24,486,000 after buying an additional 508,509 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Equity Bancshares by 26.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,773 shares of the bank’s stock worth $924,000 after purchasing an additional 4,554 shares during the last quarter. Two Sigma Advisers LP raised its stake in Equity Bancshares by 5.3% during the fourth quarter. Two Sigma Advisers LP now owns 33,800 shares of the bank’s stock worth $1,434,000 after purchasing an additional 1,700 shares during the period. Two Sigma Investments LP boosted its holdings in Equity Bancshares by 35.4% in the 4th quarter. Two Sigma Investments LP now owns 45,912 shares of the bank’s stock valued at $1,948,000 after purchasing an additional 12,013 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Equity Bancshares by 10.5% in the 4th quarter. Millennium Management LLC now owns 21,007 shares of the bank’s stock valued at $891,000 after buying an additional 1,997 shares during the period. Institutional investors and hedge funds 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.