DA Davidson Cuts Equity Bancshares (NASDAQ:EQBK) Price Target to $46.00

Equity Bancshares (NASDAQ:EQBK) had its price target lowered by DA Davidson from $50.00 to $46.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

A number of other equities research analysts have also issued reports on the company. Hovde Group increased their target price on Equity Bancshares from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their price objective on shares of Equity Bancshares from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens raised shares of Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Equity Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Equity Bancshares Stock Down 0.2 %

Shares of Equity Bancshares stock opened at $43.27 on Thursday. The company has a fifty day moving average price of $44.65 and a 200 day moving average price of $42.10. 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 has a twelve month low of $30.44 and a twelve month high of $50.85. The stock has a market cap of $661.55 million, a price-to-earnings ratio of 10.87 and a beta of 0.92.

Equity Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Tuesday, December 31st. Equity Bancshares’s payout ratio is 15.08%.

Institutional Trading of Equity Bancshares

Hedge funds have recently made changes to their positions in the stock. Mendon Capital Advisors Corp grew 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 worth $12,320,000 after acquiring an additional 336,742 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Equity Bancshares by 175.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 112,292 shares of the bank’s stock worth $4,590,000 after purchasing an additional 71,547 shares during the period. Wellington Management Group LLP acquired a new position in shares of Equity Bancshares in the 3rd quarter valued at about $2,809,000. JPMorgan Chase & Co. grew its holdings in shares of Equity Bancshares by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 360,457 shares of the bank’s stock valued at $14,735,000 after purchasing an additional 17,431 shares during the last quarter. Finally, Barclays PLC increased its position in Equity Bancshares by 247.2% in the third quarter. Barclays PLC now owns 23,308 shares of the bank’s stock worth $953,000 after buying an additional 16,595 shares during the period. Institutional investors and hedge funds 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.