Equity Bancshares (NASDAQ:EQBK) Given New $38.00 Price Target at Piper Sandler

Equity Bancshares (NASDAQ:EQBK) had its price objective boosted by equities researchers at Piper Sandler from $37.00 to $38.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective would suggest a potential upside of 11.34% from the stock’s current price.

Equity Bancshares Stock Up 3.7 %

Shares of EQBK traded up $1.22 during trading hours on Tuesday, hitting $34.13. The stock had a trading volume of 10,679 shares, compared to its average volume of 55,502. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $32.49 and a 200-day simple moving average of $30.59. The firm has a market capitalization of $526.97 million, a P/E ratio of 56.15 and a beta of 0.89. Equity Bancshares has a 1-year low of $20.50 and a 1-year high of $34.99.

Equity Bancshares (NASDAQ:EQBK) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.12. Equity Bancshares had a net margin of 3.88% and a return on equity of 12.27%. The business had revenue of ($3.95) million for the quarter, compared to analysts’ expectations of $47.67 million. Sell-side analysts predict that Equity Bancshares will post 3.74 EPS for the current fiscal year.

Insider Activity at Equity Bancshares

In related news, General Counsel Brett A. Reber sold 959 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.14, for a total value of $30,822.26. Following the transaction, the general counsel now owns 29,147 shares in the company, valued at $936,784.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel Brett A. Reber sold 959 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $32.14, for a total value of $30,822.26. Following the transaction, the general counsel now owns 29,147 shares in the company, valued at $936,784.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brad S. Elliott sold 6,290 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $31.57, for a total transaction of $198,575.30. Following the sale, the chief executive officer now directly owns 152,088 shares in the company, valued at approximately $4,801,418.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,478 shares of company stock worth $268,894. Insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Equity Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC raised its holdings in Equity Bancshares by 60.9% during the 3rd quarter. Barclays PLC now owns 14,143 shares of the bank’s stock valued at $340,000 after acquiring an additional 5,352 shares during the period. Hsbc Holdings PLC bought a new position in shares of Equity Bancshares in the third quarter worth $202,000. SG Americas Securities LLC bought a new position in shares of Equity Bancshares in the third quarter worth $164,000. Vanguard Group Inc. increased its holdings in shares of Equity Bancshares by 1.3% in the third quarter. Vanguard Group Inc. now owns 764,382 shares of the bank’s stock worth $18,399,000 after purchasing an additional 9,639 shares during the period. Finally, Rocky Mountain Advisers LLC bought a new position in shares of Equity Bancshares in the fourth quarter worth $69,000. 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.