Equity Bancshares (NASDAQ:EQBK) Price Target Lowered to $46.00 at DA Davidson

Equity Bancshares (NASDAQ:EQBK) had its price target trimmed by DA Davidson from $50.00 to $46.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

EQBK has been the topic of several other reports. Stephens upgraded Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a report on Monday, October 14th. Keefe, Bruyette & Woods boosted their target price on shares of Equity Bancshares from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Hovde Group raised their price target on shares of Equity Bancshares from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.40.

Equity Bancshares Trading Up 1.7 %

NASDAQ EQBK opened at $43.31 on Thursday. Equity Bancshares has a twelve month low of $30.44 and a twelve month high of $50.85. The business’s fifty day moving average is $44.81 and its 200 day moving average is $41.97. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The company has a market cap of $662.24 million, a price-to-earnings ratio of 39.37 and a beta of 0.92.

Equity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, December 31st. Equity Bancshares’s payout ratio is presently 54.55%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Foundry Partners LLC increased its position in shares of Equity Bancshares by 13.8% during the third quarter. Foundry Partners LLC now owns 119,525 shares of the bank’s stock worth $4,886,000 after buying an additional 14,540 shares during the period. Barclays PLC lifted its holdings in Equity Bancshares by 247.2% in the third quarter. Barclays PLC now owns 23,308 shares of the bank’s stock valued at $953,000 after buying an additional 16,595 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Equity Bancshares by 175.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 112,292 shares of the bank’s stock valued at $4,590,000 after acquiring an additional 71,547 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Equity Bancshares by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 360,457 shares of the bank’s stock worth $14,735,000 after acquiring an additional 17,431 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Equity Bancshares in the 3rd quarter worth about $2,809,000. 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.