Equity Bancshares (NASDAQ:EQBK) Price Target Raised to $57.00 at Hovde Group

Equity Bancshares (NASDAQ:EQBK) had its price target boosted by research analysts at Hovde Group from $56.00 to $57.00 in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the bank’s stock. Hovde Group’s target price suggests a potential upside of 33.69% from the stock’s previous close.

A number of other brokerages have also recently weighed in on EQBK. Keefe, Bruyette & Woods lifted their price target on shares of Equity Bancshares from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson lifted their target price on Equity Bancshares from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Stephens raised Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 target price for the company in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.20.

Equity Bancshares Stock Performance

Shares of NASDAQ:EQBK opened at $42.64 on Thursday. The firm’s 50 day simple moving average is $44.81 and its 200 day simple moving average is $41.97. Equity Bancshares has a fifty-two week low of $30.44 and a fifty-two week high of $50.85. The company has a market capitalization of $651.89 million, a price-to-earnings ratio of 38.76 and a beta of 0.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EQBK. AQR Capital Management LLC acquired a new position in Equity Bancshares during the second quarter worth $322,000. Mendon Capital Advisors Corp lifted its holdings in Equity Bancshares by 2,539.9% during the 2nd quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock valued at $12,320,000 after purchasing an additional 336,742 shares during the last quarter. SG Americas Securities LLC boosted its position in Equity Bancshares by 74.1% during the third quarter. SG Americas Securities LLC now owns 5,052 shares of the bank’s stock worth $207,000 after purchasing an additional 2,150 shares during the period. Creative Planning increased its holdings in shares of Equity Bancshares by 4.4% in the third quarter. Creative Planning now owns 80,133 shares of the bank’s stock valued at $3,276,000 after purchasing an additional 3,399 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new position in shares of Equity Bancshares in the third quarter valued at about $203,000. 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.