Equity Bancshares (NASDAQ:EQBK) Given New $40.00 Price Target at Piper Sandler

Equity Bancshares (NASDAQ:EQBK - Free Report) had its price target increased by Piper Sandler from $38.00 to $40.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the bank's stock.

Equity Bancshares Stock Down 0.6 %

Shares of NASDAQ EQBK traded down $0.19 during midday trading on Thursday, hitting $33.45. The stock had a trading volume of 19,012 shares, compared to its average volume of 48,955. The business's 50 day moving average is $33.49 and its 200-day moving average is $32.78. Equity Bancshares has a 52 week low of $21.79 and a 52 week high of $34.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.69. The company has a market cap of $510.11 million, a P/E ratio of 56.33 and a beta of 0.91.

Equity Bancshares (NASDAQ:EQBK - Get Free Report) last issued its earnings results on Tuesday, April 16th. The bank reported $1.03 EPS for the quarter, beating the consensus estimate of $0.85 by $0.18. Equity Bancshares had a return on equity of 12.08% and a net margin of 3.88%. The business had revenue of $55.91 million for the quarter, compared to the consensus estimate of $52.00 million. As a group, analysts predict that Equity Bancshares will post 3.78 EPS for the current year.

Equity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, June 28th. Equity Bancshares's dividend payout ratio is currently 80.00%.

Insiders Place Their Bets

In other Equity Bancshares news, Director Junetta M. Everett purchased 2,903 shares of the firm's stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $34.50 per share, for a total transaction of $100,153.50. Following the completion of the transaction, the director now owns 9,813 shares of the company's stock, valued at $338,548.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equity Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQBK. Mendon Capital Advisors Corp bought a new stake in shares of Equity Bancshares during the 4th quarter valued at $14,694,000. LSV Asset Management bought a new stake in Equity Bancshares during the fourth quarter valued at about $3,061,000. Petiole USA ltd purchased a new position in shares of Equity Bancshares in the fourth quarter valued at about $1,945,000. Dimensional Fund Advisors LP boosted its stake in shares of Equity Bancshares by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 754,999 shares of the bank's stock worth $25,595,000 after acquiring an additional 30,253 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Equity Bancshares during the fourth quarter worth about $449,000. 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.