Nuveen LLC Acquires New Holdings in Equity Bancshares, Inc. $EQBK

Nuveen LLC purchased a new stake in shares of Equity Bancshares, Inc. (NASDAQ:EQBK) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 40,241 shares of the bank’s stock, valued at approximately $1,585,000. Nuveen LLC owned about 0.23% of Equity Bancshares as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in Equity Bancshares by 740.0% in the fourth quarter. Wellington Management Group LLP now owns 577,230 shares of the bank’s stock valued at $24,486,000 after purchasing an additional 508,509 shares during the period. FJ Capital Management LLC grew its position in shares of Equity Bancshares by 9.8% in the 4th quarter. FJ Capital Management LLC now owns 1,127,376 shares of the bank’s stock valued at $47,823,000 after buying an additional 100,219 shares during the last quarter. Invesco Ltd. raised its position in shares of Equity Bancshares by 238.3% during the first quarter. Invesco Ltd. now owns 88,849 shares of the bank’s stock worth $3,501,000 after acquiring an additional 62,583 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Equity Bancshares by 5.7% during the first quarter. Vanguard Group Inc. now owns 888,650 shares of the bank’s stock worth $35,013,000 after acquiring an additional 47,716 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Equity Bancshares by 13.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 379,732 shares of the bank’s stock valued at $16,108,000 after acquiring an additional 45,962 shares during the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

Equity Bancshares Price Performance

Shares of NASDAQ EQBK opened at $40.51 on Friday. The firm has a market capitalization of $778.43 million, a P/E ratio of 10.18 and a beta of 0.85. The firm’s 50-day moving average price is $40.09 and its 200-day moving average price is $39.66. 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 $34.11 and a 1-year high of $50.85.

Wall Street Analyst Weigh In

Several research firms have issued reports on EQBK. DA Davidson raised their price target on shares of Equity Bancshares from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods boosted their target price on shares of Equity Bancshares from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.80.

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.