Piper Sandler Increases Equity Bancshares (NASDAQ:EQBK) Price Target to $38.00

Equity Bancshares (NASDAQ:EQBK) had its target price boosted by equities researchers at Piper Sandler from $37.00 to $38.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price target points to a potential upside of 12.16% from the stock’s previous close.

Equity Bancshares Stock Down 1.2 %

EQBK opened at $33.88 on Tuesday. Equity Bancshares has a one year low of $20.50 and a one year high of $34.99. The company has a fifty day moving average price of $32.54 and a 200-day moving average price of $30.66. The firm has a market capitalization of $523.04 million, a P/E ratio of 56.60 and a beta of 0.89. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.87.

Equity Bancshares (NASDAQ:EQBK) last announced its earnings results on Wednesday, January 24th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping 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 company had revenue of ($3.95) million during the quarter, compared to analyst estimates of $47.67 million. Equities research analysts expect that Equity Bancshares will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Equity Bancshares

In other Equity Bancshares news, EVP Julie A. Huber sold 1,050 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.14, for a total transaction of $33,747.00. Following the completion of the sale, the executive vice president now directly owns 56,918 shares in the company, valued at $1,829,344.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel Brett A. Reber sold 959 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.14, for a total transaction of $30,822.26. Following the completion of the transaction, the general counsel now directly owns 29,147 shares of the company’s stock, valued at $936,784.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Julie A. Huber sold 1,050 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.14, for a total transaction of $33,747.00. Following the transaction, the executive vice president now directly owns 56,918 shares of the company’s stock, valued at $1,829,344.52. The disclosure for this sale can be found here. Insiders sold a total of 8,478 shares of company stock worth $268,894 over the last three months. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Equity Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of EQBK. Rocky Mountain Advisers LLC bought a new position in shares of Equity Bancshares during the fourth quarter valued at about $69,000. Tower Research Capital LLC TRC raised its stake in Equity Bancshares by 530.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,756 shares of the bank’s stock worth $93,000 after buying an additional 2,319 shares in the last quarter. Denali Advisors LLC bought a new position in Equity Bancshares in the third quarter worth about $123,000. SG Americas Securities LLC bought a new position in Equity Bancshares in the third quarter worth about $164,000. Finally, Hsbc Holdings PLC bought a new position in Equity Bancshares in the third quarter worth about $202,000. 71.80% of the stock is owned by institutional investors.

Equity Bancshares Company 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.