DA Davidson Forecasts Strong Price Appreciation for Equity Bancshares (NASDAQ:EQBK) Stock

Equity Bancshares (NASDAQ:EQBK) had its target price upped by equities research analysts at DA Davidson from $50.00 to $52.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage presently has a “neutral” rating on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 15.14% from the company’s current price.

EQBK has been the topic of several other reports. Keefe, Bruyette & Woods boosted their price target on shares of Equity Bancshares from $47.00 to $49.00 and gave the stock a “market perform” rating in a research report on Friday. Piper Sandler increased their target price on shares of Equity Bancshares from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $52.67.

Equity Bancshares Stock Performance

Shares of NASDAQ EQBK opened at $45.16 on Friday. Equity Bancshares has a 1 year low of $34.11 and a 1 year high of $50.07. The firm has a market cap of $861.53 million, a P/E ratio of 11.35 and a beta of 0.87. The stock has a fifty day moving average price of $45.25 and a two-hundred day moving average price of $42.18. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.86.

Hedge Funds Weigh In On Equity Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in Equity Bancshares by 282.0% during the 2nd quarter. Osaic Holdings Inc. now owns 680 shares of the bank’s stock valued at $28,000 after purchasing an additional 502 shares during the period. State of Alaska Department of Revenue acquired a new position in Equity Bancshares during the third quarter valued at $28,000. State of Wyoming acquired a new position in Equity Bancshares during the second quarter valued at $59,000. Tower Research Capital LLC TRC lifted its stake in Equity Bancshares by 233.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the bank’s stock worth $79,000 after acquiring an additional 1,347 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Equity Bancshares by 33.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,189 shares of the bank’s stock worth $89,000 after acquiring an additional 547 shares during the period. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

Equity Bancshares Company Profile

Equity Bancshares, Inc is a bank holding company headquartered in Wichita, Kansas, operating through its wholly owned subsidiary Equity Bank. As a full-service commercial bank, it serves both individual and business clients with a range of deposit and lending solutions.

The company’s offerings include traditional checking, savings and money market accounts, alongside consumer and commercial lending products such as real estate, construction, equipment and agricultural loans. In addition, Equity Bancshares provides treasury management and payment processing services, as well as mortgage origination and servicing.