Boothbay Fund Management LLC Invests $5.01 Million in Equity Bancshares, Inc. (NASDAQ:EQBK)

Boothbay Fund Management LLC purchased a new stake in Equity Bancshares, Inc. (NASDAQ:EQBK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 118,179 shares of the bank's stock, valued at approximately $5,013,000. Boothbay Fund Management LLC owned approximately 0.77% of Equity Bancshares as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. R Squared Ltd acquired a new position in shares of Equity Bancshares during the 4th quarter worth approximately $54,000. Quantbot Technologies LP boosted its stake in shares of Equity Bancshares by 139.9% in the fourth quarter. Quantbot Technologies LP now owns 2,725 shares of the bank's stock valued at $116,000 after buying an additional 1,589 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Equity Bancshares during the fourth quarter worth approximately $119,000. AlphaQuest LLC bought a new position in Equity Bancshares during the 4th quarter worth $160,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Equity Bancshares in the 4th quarter valued at $231,000. 71.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stephens reduced their target price on Equity Bancshares from $52.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Piper Sandler reduced their price objective on shares of Equity Bancshares from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Hovde Group boosted their target price on shares of Equity Bancshares from $56.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. DA Davidson reduced their price target on shares of Equity Bancshares from $40.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Finally, Janney Montgomery Scott assumed coverage on shares of Equity Bancshares in a research report on Thursday, April 3rd. They set a "neutral" rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Equity Bancshares presently has an average rating of "Moderate Buy" and an average price target of $46.60.

Equity Bancshares Trading Down 1.2 %

EQBK opened at $38.11 on Friday. The company has a market cap of $667.27 million, a P/E ratio of 9.58 and a beta of 0.73. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. The company's 50 day moving average is $39.13 and its 200-day moving average is $42.52. Equity Bancshares, Inc. has a 1-year low of $31.75 and a 1-year high of $50.85.

Equity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. Equity Bancshares's payout ratio is presently 15.27%.

Equity Bancshares 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.

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