Hovde Group Issues Positive Forecast for Equity Bancshares (NASDAQ:EQBK) Stock Price

Equity Bancshares (NASDAQ:EQBK) had its price objective raised by Hovde Group from $56.00 to $57.00 in a research report released on Thursday, MarketBeat Ratings reports. The firm currently has an outperform rating on the bank’s stock.

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

Equity Bancshares Stock Performance

Shares of Equity Bancshares stock opened at $43.27 on Thursday. The firm has a fifty day moving average of $44.65 and a two-hundred day moving average of $42.10. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $661.55 million, a price-to-earnings ratio of 10.87 and a beta of 0.92. Equity Bancshares has a 52 week low of $30.44 and a 52 week high of $50.85.

Equity Bancshares Announces Dividend

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

Institutional Investors Weigh In On Equity Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new position in Equity Bancshares during the fourth quarter worth approximately $54,000. BNP Paribas Financial Markets boosted its stake in shares of Equity Bancshares by 7.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,213 shares of the bank’s stock worth $131,000 after acquiring an additional 232 shares during the period. Foundations Investment Advisors LLC acquired a new position in shares of Equity Bancshares during the 3rd quarter worth approximately $203,000. SG Americas Securities LLC lifted its holdings in Equity Bancshares by 74.1% during the 3rd quarter. SG Americas Securities LLC now owns 5,052 shares of the bank’s stock valued at $207,000 after purchasing an additional 2,150 shares during the last quarter. Finally, Triune Financial Partners LLC bought a new position in Equity Bancshares during the third quarter worth $268,000. 71.80% of the stock is owned by institutional investors.

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.