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

Equity Bancshares (NASDAQ:EQBK) had its price objective upped by analysts at Hovde Group from $56.00 to $57.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the bank’s stock. Hovde Group’s price target indicates a potential upside of 31.74% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Equity Bancshares from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson upped their price target on Equity Bancshares from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Stephens upgraded Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price objective for the company in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.00.

Equity Bancshares Stock Performance

Shares of Equity Bancshares stock opened at $43.27 on Thursday. The business has a fifty day simple moving average of $44.65 and a two-hundred day simple moving average of $42.05. The firm has a market capitalization of $661.55 million, a P/E ratio of 10.87 and a beta of 0.92. 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 12 month low of $30.44 and a 12 month high of $50.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EQBK. R Squared Ltd bought a new stake in Equity Bancshares in the 4th quarter worth about $54,000. BNP Paribas Financial Markets grew its stake in shares of Equity Bancshares by 7.8% in the third 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 purchased a new position in shares of Equity Bancshares during the third quarter valued at approximately $203,000. SG Americas Securities LLC raised its holdings in shares of Equity Bancshares by 74.1% during the third 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 valued at approximately $268,000. 71.80% of the stock is owned by institutional investors.

About Equity Bancshares

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.