Equity BancShares (NASDAQ:EQBK) Downgraded by BidaskClub

BidaskClub lowered shares of Equity BancShares (NASDAQ:EQBK) from a buy rating to a hold rating in a research note released on Thursday, BidAskClub reports.

Other analysts also recently issued reports about the company. ValuEngine raised Zuora from a hold rating to a buy rating in a report on Saturday, July 6th. TheStreet raised One Group Hospitality from a d rating to a b- rating in a report on Tuesday, April 23rd. Finally, Zacks Investment Research raised Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 target price for the company in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $44.00.

Shares of NASDAQ EQBK opened at $25.89 on Thursday. The stock has a market cap of $407.51 million, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.13 and a beta of 0.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50-day simple moving average is $25.97. Equity BancShares has a 1 year low of $22.75 and a 1 year high of $43.78.

Equity BancShares (NASDAQ:EQBK) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.19). The business had revenue of $35.96 million for the quarter, compared to analysts’ expectations of $38.61 million. Equity BancShares had a return on equity of 8.98% and a net margin of 12.04%. Equities analysts anticipate that Equity BancShares will post 2.29 earnings per share for the current year.

In other news, Director Harvey R. Sorensen bought 2,000 shares of Equity BancShares stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $25.66 per share, with a total value of $51,320.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Craig L. Anderson bought 1,000 shares of Equity BancShares stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average cost of $26.31 per share, with a total value of $26,310.00. The disclosure for this purchase can be found here. Insiders bought a total of 5,000 shares of company stock valued at $128,010 over the last three months. Company insiders own 8.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in Equity BancShares by 42.5% during the fourth quarter. Rhumbline Advisers now owns 19,079 shares of the bank’s stock valued at $673,000 after purchasing an additional 5,690 shares during the last quarter. BlackRock Inc. lifted its holdings in Equity BancShares by 4.6% during the fourth quarter. BlackRock Inc. now owns 801,575 shares of the bank’s stock valued at $28,256,000 after purchasing an additional 35,604 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Equity BancShares by 15.3% during the fourth quarter. Bank of New York Mellon Corp now owns 65,647 shares of the bank’s stock valued at $2,314,000 after purchasing an additional 8,710 shares during the last quarter. Citigroup Inc. lifted its holdings in Equity BancShares by 56.6% during the fourth quarter. Citigroup Inc. now owns 5,460 shares of the bank’s stock valued at $192,000 after purchasing an additional 1,973 shares during the last quarter. Finally, Great West Life Assurance Co. Can purchased a new stake in Equity BancShares during the fourth quarter valued at about $89,000. Hedge funds and other institutional investors own 66.13% of the company’s stock.

Equity BancShares Company Profile

Equity Bancshares, Inc operates as a bank holding company for Equity Bank that provides a range of financial services primarily to businesses, business owners, and individuals. The company accepts various deposit products, including demand, savings, money market, and time deposits. Its loan products include commercial and industrial, commercial real estate-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction loans, homebuilder, agricultural, government guaranteed, and other loans, as well as letters of credit to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses.

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