Equity Bancshares Stock Hits New 52-Week High and Analysts Set New Price Targets
Equity Bancshares, Inc. (NASDAQ:EQBK) reached a new milestone on Thursday as its stock price hit a 52-week high of $35.50 during mid-day trading. The company’s stock closed at $35.34, with a trading volume of 18768 shares.
Analysts have set new price targets for Equity Bancshares, with Piper Sandler raising their price objective from $38.00 to $40.00 and giving the company an “overweight” rating. Overall, three equities research analysts have rated the stock as a hold, while one has given it a buy rating. The consensus rating for Equity Bancshares is currently “Hold” with an average target price of $33.33.
Equity Bancshares has a debt-to-equity ratio of 0.69, a current ratio of 0.83, and a quick ratio of 0.83. The company has a market capitalization of $561.51 million, a P/E ratio of 61.37, and a beta of 0.90. Its 50-day moving average is $34.00, and its 200-day moving average is $33.29.
In terms of financial performance, Equity Bancshares reported earnings per share of $1.03 for the quarter, surpassing the consensus estimate of $0.85 by $0.18. The company had revenue of $55.91 million for the quarter, exceeding analysts’ expectations of $52.00 million. Equity Bancshares had a return on equity of 12.08% and a net margin of 3.88%.
Additionally, Equity Bancshares announced a quarterly dividend, with investors of record on Friday, June 28th set to receive a $0.12 dividend on Monday, July 15th. The ex-dividend date for this dividend is also Friday, June 28th, representing a $0.48 annualized dividend and a dividend yield of 1.30%.
In terms of insider trading, Director Junetta M. Everett purchased 2,903 shares of Equity Bancshares stock at an average cost of $34.50 per share. Institutional investors and hedge funds have also been active in trading Equity Bancshares stock, with several new stakes and increased holdings reported.
Equity Bancshares, Inc. operates as the bank holding company for Equity Bank, offering a range of banking, mortgage banking, and financial services to individual and corporate customers. The company’s loan products include various commercial and industrial, real estate, and other loan products.
Overall, Equity Bancshares is experiencing positive momentum in the market, with its stock price reaching new highs and analysts setting optimistic price targets. Investors and analysts are closely monitoring the company’s financial performance and strategic moves in the banking sector.
