Equity Bancshares (NASDAQ:EQBK) Price Target Cut to $46.00 by Analysts at DA Davidson

Equity Bancshares (NASDAQ:EQBK) had its target price cut by equities research analysts at DA Davidson from $50.00 to $46.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. DA Davidson’s target price indicates a potential upside of 8.72% from the company’s current price.

Several other brokerages also recently weighed in on EQBK. Hovde Group increased their target price on shares of Equity Bancshares from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on 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, Stephens raised Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 target price for the company in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.40.

Equity Bancshares Stock Performance

NASDAQ:EQBK traded down $0.29 during mid-day trading on Thursday, reaching $42.31. 24,121 shares of the stock were exchanged, compared to its average volume of 65,088. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $646.92 million, a P/E ratio of 38.46 and a beta of 0.92. The company has a 50 day simple moving average of $44.81 and a 200-day simple moving average of $41.97. Equity Bancshares has a 1 year low of $30.44 and a 1 year high of $50.85.

Hedge Funds Weigh In On Equity Bancshares

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