Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Equity Bancshares (NASDAQ:EQBK) Stock

Equity Bancshares (NASDAQ:EQBK) had its target price lifted by research analysts at Keefe, Bruyette & Woods from $45.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 11.28% from the stock’s previous close.

Separately, DA Davidson upped their price objective on shares of Equity Bancshares from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.40.

Equity Bancshares Price Performance

EQBK opened at $42.24 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. Equity Bancshares has a 12 month low of $34.11 and a 12 month high of $50.85. The company has a fifty day simple moving average of $40.22 and a 200 day simple moving average of $39.62. The stock has a market cap of $811.67 million, a P/E ratio of 10.61 and a beta of 0.83.

Hedge Funds Weigh In On Equity Bancshares

A number of large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in Equity Bancshares by 282.0% during the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the bank’s stock worth $28,000 after purchasing an additional 502 shares in the last quarter. State of Wyoming bought a new position in Equity Bancshares during the 2nd quarter worth about $59,000. Tower Research Capital LLC TRC increased its holdings in Equity Bancshares by 233.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the bank’s stock worth $79,000 after purchasing an additional 1,347 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in Equity Bancshares during the 2nd quarter worth about $331,000. Finally, Voleon Capital Management LP bought a new position in Equity Bancshares during the 2nd quarter worth about $315,000. Institutional investors own 71.80% of the company’s stock.

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.