Equity Bancshares (NASDAQ:EQBK) Stock Crosses Below 50 Day Moving Average – Here’s Why

Equity Bancshares, Inc. (NASDAQ:EQBK) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $41.11 and traded as low as $40.60. Equity Bancshares shares last traded at $41.1580, with a volume of 50,803 shares traded.

Analysts Set New Price Targets

EQBK has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Equity Bancshares from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, September 4th. Piper Sandler assumed coverage on Equity Bancshares in a research note on Wednesday, October 8th. They issued an “overweight” rating and a $54.00 target price for the company. Finally, DA Davidson restated a “neutral” rating and issued a $45.00 price target on shares of Equity Bancshares in a report on Thursday, October 16th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.40.

Equity Bancshares Stock Performance

The stock’s 50 day moving average is $41.11 and its two-hundred day moving average is $40.20. The stock has a market capitalization of $790.97 million, a price-to-earnings ratio of 10.34 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78.

Equity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 30th. This is a boost from Equity Bancshares’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.7%. Equity Bancshares’s dividend payout ratio is 60.00%.

Institutional Investors Weigh In On Equity Bancshares

Several institutional investors have recently bought and sold shares of EQBK. Goldman Sachs Group Inc. lifted its stake in Equity Bancshares by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 90,037 shares of the bank’s stock valued at $3,547,000 after acquiring an additional 17,196 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Equity Bancshares in the 1st quarter valued at about $553,000. Trexquant Investment LP lifted its stake in Equity Bancshares by 254.0% in the 1st quarter. Trexquant Investment LP now owns 25,879 shares of the bank’s stock valued at $1,020,000 after purchasing an additional 18,568 shares during the last quarter. Vanguard Group Inc. lifted its stake in Equity Bancshares by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 888,650 shares of the bank’s stock valued at $35,013,000 after purchasing an additional 47,716 shares during the last quarter. Finally, Nuveen LLC bought a new position in Equity Bancshares during the first quarter worth about $1,585,000. 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.