State Street Corp Purchases 8,103 Shares of Equity Bancshares, Inc. (NASDAQ:EQBK)

State Street Corp raised its position in Equity Bancshares, Inc. (NASDAQ:EQBK) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,889 shares of the bank’s stock after buying an additional 8,103 shares during the quarter. State Street Corp owned about 2.06% of Equity Bancshares worth $12,919,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in Equity Bancshares by 7.8% in the 3rd 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 last quarter. Foundations Investment Advisors LLC purchased a new position in Equity Bancshares in the 3rd quarter valued at approximately $203,000. SG Americas Securities LLC grew its stake in Equity Bancshares by 74.1% in the 3rd quarter. SG Americas Securities LLC now owns 5,052 shares of the bank’s stock valued at $207,000 after buying an additional 2,150 shares in the last quarter. Triune Financial Partners LLC bought a new position in shares of Equity Bancshares in the third quarter worth $268,000. Finally, PDT Partners LLC purchased a new position in shares of Equity Bancshares in the third quarter valued at $282,000. 71.80% of the stock is currently owned by institutional investors.

Equity Bancshares Stock Up 1.1 %

EQBK stock opened at $42.81 on Thursday. The company’s 50 day moving average is $45.64 and its 200 day moving average is $40.80. The stock has a market cap of $654.56 million, a price-to-earnings ratio of 38.92 and a beta of 0.90. 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, Inc. has a 1-year low of $30.44 and a 1-year high of $50.85.

Equity Bancshares (NASDAQ:EQBK) last issued its quarterly earnings results on Tuesday, October 15th. The bank reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.32. The firm had revenue of $55.35 million for the quarter, compared to analyst estimates of $55.77 million. Equity Bancshares had a net margin of 6.36% and a return on equity of 13.53%. Sell-side analysts predict that Equity Bancshares, Inc. will post 4.27 EPS for the current fiscal year.

Equity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.40%. Equity Bancshares’s payout ratio is 54.55%.

Wall Street Analysts Forecast Growth

EQBK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on 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 increased their target price on shares of 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 raised shares of Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a report on Monday, October 14th.

Equity Bancshares 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.