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

Equity Bancshares (NASDAQ:EQBK - Get Free Report) had its price target cut by DA Davidson from $50.00 to $46.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. DA Davidson's price objective would indicate a potential upside of 6.32% from the stock's current price.

A number of other research firms have also recently weighed in on EQBK. 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. Stephens upgraded shares of Equity Bancshares from an "equal weight" rating to an "overweight" rating and set a $46.00 target price for the company in a research report on Monday, October 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on Equity Bancshares from $43.00 to $48.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Equity Bancshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.

Equity Bancshares Stock Performance

EQBK stock traded down $0.08 during midday trading on Thursday, hitting $43.27. 151,055 shares of the stock traded hands, compared to its average volume of 78,037. The stock's fifty day simple moving average is $44.65 and its 200-day simple moving average is $42.05. The firm has a market cap of $661.55 million, a P/E ratio of 10.87 and a beta of 0.92. Equity Bancshares has a 1-year low of $30.44 and a 1-year high of $50.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86.

Institutional Trading of Equity Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Equity Bancshares by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 360,457 shares of the bank's stock valued at $14,735,000 after acquiring an additional 17,431 shares during the period. Mendon Capital Advisors Corp lifted its stake in shares of Equity Bancshares by 2,539.9% in the second quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank's stock valued at $12,320,000 after purchasing an additional 336,742 shares during the period. State Street Corp lifted its stake in shares of Equity Bancshares by 2.6% in the third quarter. State Street Corp now owns 314,889 shares of the bank's stock valued at $12,919,000 after purchasing an additional 8,103 shares during the period. Foundry Partners LLC boosted its holdings in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 worth $4,590,000 after buying an additional 71,547 shares during the period. 71.80% of the stock is owned by institutional investors and hedge funds.

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.