Equity Bancshares (NYSE:EQBK) Announces Earnings Results

Equity Bancshares (NYSE:EQBK) posted its quarterly earnings results on Wednesday. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.11, FiscalAI reports. The firm had revenue of $83.73 million for the quarter, compared to analyst estimates of $84.91 million. Equity Bancshares had a return on equity of 13.34% and a net margin of 8.26%.

Equity Bancshares Price Performance

Shares of EQBK stock traded down $0.33 during trading hours on Wednesday, reaching $46.50. 181,308 shares of the company were exchanged, compared to its average volume of 114,532. The company has a market cap of $957.41 million, a price-to-earnings ratio of 27.84 and a beta of 0.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s fifty day moving average is $49.38 and its two-hundred day moving average is $47.84. Equity Bancshares has a fifty-two week low of $38.60 and a fifty-two week high of $52.27.

Equity Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 30th. This is a positive change from Equity Bancshares’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.9%. Equity Bancshares’s dividend payout ratio (DPR) is currently 52.69%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. DA Davidson upped their price target on Equity Bancshares from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Weiss Ratings upgraded shares of Equity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Piper Sandler cut Equity Bancshares from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $52.00 in a research report on Friday, October 2nd. Finally, Wall Street Zen lowered Equity Bancshares from a “buy” rating to a “hold” rating in a research note on Sunday, September 13th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Equity Bancshares presently has an average rating of “Moderate Buy” and an average price target of $54.00.

Insider Transactions at Equity Bancshares

In other news, COO Julie Huber sold 2,197 shares of Equity Bancshares stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $51.12, for a total transaction of $112,310.64. Following the completion of the sale, the chief operating officer owned 62,009 shares in the company, valued at $3,169,900.08. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brad Elliott sold 4,165 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $51.12, for a total transaction of $212,914.80. Following the sale, the chief executive officer owned 55,313 shares of the company’s stock, valued at $2,827,600.56. The trade was a 7.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 4,989 shares of company stock valued at $250,919 and have sold 24,500 shares valued at $1,250,951. 14.50% of the stock is currently owned by company insiders.

Equity Bancshares Company Profile

Equity Bancshares, Inc is a bank holding company headquartered in Wichita, Kansas. Through its subsidiary, Equity Bank, the company provides community banking services to individuals, businesses, agricultural customers and public-sector organizations.

Equity Bank offers checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer financing, agricultural loans and commercial lines of credit. Its business banking services also include treasury management, cash management, electronic banking and other financial solutions designed to support operating and borrowing needs.

Founded in 2002, Equity Bancshares has expanded through organic growth and acquisitions.