Equity Bancshares (NYSE:EQBK) Hits New 1-Year High Following Insider Buying Activity

Equity Bancshares, Inc. (NYSE:EQBK)’s share price reached a new 52-week high during mid-day trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $51.73 and last traded at $51.52, with a volume of 10632 shares trading hands. The stock had previously closed at $51.00.

Specifically, Director Donald Scott Rogerson bought 2,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $50.25 per share, for a total transaction of $100,500.00. Following the purchase, the director directly owned 8,103 shares of the company’s stock, valued at approximately $407,175.75. This represents a 32.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa Ann Schlehuber acquired 989 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was acquired at an average cost of $50.98 per share, for a total transaction of $50,419.22. Following the transaction, the director owned 2,092 shares of the company’s stock, valued at approximately $106,650.16. The trade was a 89.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EQBK shares. Piper Sandler restated an “overweight” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Stephens lifted their target price on shares of Equity Bancshares from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Hovde Group assumed coverage on shares of Equity Bancshares in a research note on Wednesday, June 10th. They set a “market perform” rating and a $51.00 price objective for the company. Weiss Ratings raised shares of Equity Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.17.

Equity Bancshares Trading Up 1.0%

The stock’s 50 day moving average is $48.33 and its 200-day moving average is $46.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market cap of $1.06 billion, a P/E ratio of 30.84 and a beta of 0.77.

Equity Bancshares (NYSE:EQBK) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.17. The company had revenue of $81.93 million for the quarter, compared to the consensus estimate of $85.10 million. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.67%. Research analysts anticipate that Equity Bancshares, Inc. will post 5.18 earnings per share for the current fiscal year.

Equity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, June 30th. Equity Bancshares’s dividend payout ratio (DPR) is 43.11%.

Institutional Investors Weigh In On Equity Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in Equity Bancshares by 0.6% during the first quarter. First Trust Advisors LP now owns 48,621 shares of the company’s stock valued at $2,159,000 after purchasing an additional 300 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Equity Bancshares by 0.7% in the 4th quarter. Russell Investments Group Ltd. now owns 51,640 shares of the company’s stock worth $2,306,000 after acquiring an additional 381 shares during the period. Intech Investment Management LLC increased its position in Equity Bancshares by 5.6% during the third quarter. Intech Investment Management LLC now owns 7,306 shares of the company’s stock worth $297,000 after acquiring an additional 388 shares during the period. Mariner LLC raised its stake in shares of Equity Bancshares by 5.4% in the 4th quarter. Mariner LLC now owns 9,516 shares of the company’s stock valued at $425,000 after buying an additional 486 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Equity Bancshares by 282.0% during the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the company’s stock worth $28,000 after purchasing an additional 502 shares in the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.

About Equity Bancshares

Equity Bancshares, Inc is the bank holding company for Equity Bank, a regional financial services provider headquartered in Wichita, Kansas. As a publicly traded company on the New York Stock Exchange under the ticker EQBK, Equity Bancshares operates a network of branches and lending offices across Kansas, Missouri, Oklahoma, Illinois and Colorado. Its geographic footprint spans both urban and rural markets, reflecting a focus on supporting small businesses, agricultural enterprises and individual consumers throughout the Midwest.

The company’s core business activities encompass a full spectrum of commercial and consumer banking services.