Equity BancShares (NASDAQ:EQBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage currently has a $40.00 price target on the bank’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.44% from the stock’s previous close.
According to Zacks, “Equity Bancshares, Inc. operates as a bank holding company primarily in Kansas and Missouri. The company provides financial services primarily to businesses, business owners and individuals. It offers certificates of deposits, individual retirement and money market accounts, home equity lines of credit, credit cards, mortgages, treasury management, personal and business loans, investment services. Equity Bancshares, Inc. is headquartered in Wichita, Kansas. “
Several other research analysts also recently commented on EQBK. BidaskClub downgraded shares of Equity BancShares from a “buy” rating to a “hold” rating in a research note on Saturday, December 30th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $41.00 target price on shares of Equity BancShares in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Equity BancShares currently has a consensus rating of “Hold” and a consensus price target of $34.75.
Equity BancShares (NASDAQ:EQBK) opened at $36.22 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.70. Equity BancShares has a one year low of $29.13 and a one year high of $36.99. The company has a market cap of $528.99, a price-to-earnings ratio of 20.12 and a beta of 1.02.
In other Equity BancShares news, Director Michael R. Downing sold 10,023 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $35.00, for a total transaction of $350,805.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 14.90% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Thomson Horstmann & Bryant Inc. increased its position in Equity BancShares by 2.6% during the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 145,134 shares of the bank’s stock valued at $5,139,000 after purchasing an additional 3,657 shares during the period. GSA Capital Partners LLP purchased a new position in Equity BancShares during the 3rd quarter valued at $278,000. Castine Capital Management LLC increased its position in Equity BancShares by 21.8% during the 3rd quarter. Castine Capital Management LLC now owns 220,044 shares of the bank’s stock valued at $7,830,000 after purchasing an additional 39,428 shares during the period. Allianz Asset Management GmbH purchased a new position in Equity BancShares during the 3rd quarter valued at $2,101,000. Finally, OxFORD Asset Management LLP purchased a new position in Equity BancShares during the 3rd quarter valued at $418,000. 51.78% of the stock is currently owned by institutional investors and hedge funds.
About Equity BancShares
Equity Bancshares, Inc is a bank holding company. The Company’s principal activity is the ownership and management of its subsidiary, Equity Bank (the Bank). The Bank provides a range of financial services primarily to businesses and business owners, as well as individuals through its network of over 30 branches located in Kansas and Missouri.
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