KLP Kapitalforvaltning AS Acquires New Shares in Equity Bancshares, Inc. (NASDAQ:EQBK)

KLP Kapitalforvaltning AS purchased a new stake in shares of Equity Bancshares, Inc. (NASDAQ:EQBK) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,800 shares of the bank’s stock, valued at approximately $119,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of Equity Bancshares by 7.8% during 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. Charles Schwab Investment Management Inc. grew its holdings in Equity Bancshares by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 113,013 shares of the bank’s stock worth $4,794,000 after acquiring an additional 721 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Equity Bancshares by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 6,043 shares of the bank’s stock worth $256,000 after purchasing an additional 991 shares during the last quarter. R Squared Ltd bought a new stake in shares of Equity Bancshares in the 4th quarter worth approximately $54,000. Finally, Sippican Capital Advisors lifted its stake in Equity Bancshares by 7.9% in the fourth quarter. Sippican Capital Advisors now owns 19,064 shares of the bank’s stock worth $809,000 after acquiring an additional 1,397 shares during the period. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on EQBK. Keefe, Bruyette & Woods decreased their price objective on shares of Equity Bancshares from $46.00 to $44.00 and set a “market perform” rating for the company in a report on Monday. Janney Montgomery Scott initiated coverage on shares of Equity Bancshares in a research note on Thursday, April 3rd. They issued a “neutral” rating for the company. Stephens cut their price objective on Equity Bancshares from $52.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. DA Davidson decreased their target price on Equity Bancshares from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Finally, Hovde Group lifted their price target on Equity Bancshares from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.20.

Equity Bancshares Price Performance

Shares of NASDAQ:EQBK opened at $36.99 on Thursday. The business has a 50-day simple moving average of $40.84 and a two-hundred day simple moving average of $42.79. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $647.64 million, a price-to-earnings ratio of 9.29 and a beta of 0.73. Equity Bancshares, Inc. has a fifty-two week low of $30.98 and a fifty-two week high of $50.85.

Equity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, March 31st. Equity Bancshares’s dividend payout ratio (DPR) is presently 15.08%.

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.