Stephens Has Lowered Expectations for Equity Bancshares (NASDAQ:EQBK) Stock Price

Equity Bancshares (NASDAQ:EQBK) had its price target dropped by Stephens from $52.00 to $49.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Stephens’ price target points to a potential upside of 13.25% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. DA Davidson decreased their price objective on shares of Equity Bancshares from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods lifted their price target on Equity Bancshares from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Hovde Group boosted their price objective on Equity Bancshares from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Equity Bancshares Stock Performance

NASDAQ EQBK opened at $43.27 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86. The company has a fifty day moving average price of $44.65 and a 200-day moving average price of $42.10. Equity Bancshares has a 1 year low of $30.44 and a 1 year high of $50.85. The firm has a market cap of $661.55 million, a price-to-earnings ratio of 10.87 and a beta of 0.92.

Institutional Investors Weigh In On Equity Bancshares

Several large investors have recently added to or reduced their stakes in EQBK. Mendon Capital Advisors Corp raised its stake in Equity Bancshares by 2,539.9% in the 2nd quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock valued at $12,320,000 after acquiring an additional 336,742 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Equity Bancshares by 175.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 112,292 shares of the bank’s stock valued at $4,590,000 after purchasing an additional 71,547 shares during the period. Wellington Management Group LLP bought a new stake in shares of Equity Bancshares in the third quarter valued at approximately $2,809,000. JPMorgan Chase & Co. raised its position in shares of Equity Bancshares by 5.1% in 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 period. Finally, Barclays PLC boosted its holdings in Equity Bancshares by 247.2% in the 3rd 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. Hedge funds and other institutional investors 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.