Equity Bancshares (NYSE:EQBK) Releases Earnings Results, Beats Expectations By $0.11 EPS
by Kim Johansen · The Markets DailyEquity Bancshares (NYSE:EQBK – Get Free Report) issued its earnings results on Wednesday. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.11, FiscalAI reports. Equity Bancshares had a net margin of 8.26% and a return on equity of 13.34%. The business had revenue of $83.73 million during the quarter, compared to the consensus estimate of $84.91 million.
Equity Bancshares Stock Performance
Shares of EQBK stock traded down $0.33 during midday trading on Wednesday, hitting $46.50. 181,682 shares of the company were exchanged, compared to its average volume of 114,535. Equity Bancshares has a 52 week low of $38.60 and a 52 week high of $52.27. The firm has a market capitalization of $957.41 million, a P/E ratio of 27.84 and a beta of 0.80. The firm’s 50 day moving average price is $49.38 and its two-hundred day moving average price is $47.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 0.93.
Equity Bancshares Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Equity Bancshares’s previous quarterly dividend of $0.18. Equity Bancshares’s payout ratio is presently 52.69%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on EQBK shares. Piper Sandler downgraded Equity Bancshares from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $60.00 to $52.00 in a research report on Friday, October 2nd. Zacks Research raised Equity Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Royal Bank Of Canada reiterated a “buy” rating on shares of Equity Bancshares in a research note on Monday, June 22nd. Weiss Ratings upgraded Equity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Stephens boosted their target price on Equity Bancshares from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Equity Bancshares currently has an average rating of “Moderate Buy” and an average target price of $54.00.
Read Our Latest Stock Analysis on EQBK
Insider Activity at Equity Bancshares
In related news, Director Lisa Ann Schlehuber purchased 989 shares of the stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $50.98 per share, with a total value of $50,419.22. Following the acquisition, the director directly owned 2,092 shares in the company, valued at $106,650.16. The trade was a 89.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Julie Huber sold 5,303 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $51.05, for a total transaction of $270,718.15. Following the sale, the chief operating officer owned 62,009 shares of the company’s stock, valued at $3,165,559.45. This trade represents a 7.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 4,989 shares of company stock valued at $250,919 and sold 24,500 shares valued at $1,250,951. 14.50% of the stock is currently owned by company insiders.
About Equity Bancshares
Equity Bancshares, Inc is a bank holding company headquartered in Wichita, Kansas. Through its subsidiary, Equity Bank, the company provides community banking services to individuals, businesses, agricultural customers and public-sector organizations.
Equity Bank offers checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer financing, agricultural loans and commercial lines of credit. Its business banking services also include treasury management, cash management, electronic banking and other financial solutions designed to support operating and borrowing needs.
Founded in 2002, Equity Bancshares has expanded through organic growth and acquisitions.
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