68,721 Shares in Equity Bancshares, Inc. (NASDAQ:EQBK) Purchased by Wellington Management Group LLP

Wellington Management Group LLP bought a new stake in shares of Equity Bancshares, Inc. (NASDAQ:EQBK) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 68,721 shares of the bank’s stock, valued at approximately $2,809,000. Wellington Management Group LLP owned approximately 0.45% of Equity Bancshares at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Equity Bancshares by 5.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 79,831 shares of the bank’s stock worth $2,810,000 after purchasing an additional 3,838 shares in the last quarter. Foundry Partners LLC increased its position in Equity Bancshares by 890.4% during the second quarter. Foundry Partners LLC now owns 104,985 shares of the bank’s stock worth $3,695,000 after buying an additional 94,385 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Equity Bancshares by 1.7% in the second quarter. Federated Hermes Inc. now owns 19,240 shares of the bank’s stock worth $677,000 after acquiring an additional 327 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Equity Bancshares by 35.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 41,585 shares of the bank’s stock valued at $1,464,000 after acquiring an additional 10,824 shares in the last quarter. Finally, ELCO Management Co. LLC boosted its stake in shares of Equity Bancshares by 3.1% during the second quarter. ELCO Management Co. LLC now owns 13,673 shares of the bank’s stock valued at $481,000 after acquiring an additional 415 shares during the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

Equity Bancshares Stock Performance

NASDAQ EQBK opened at $45.50 on Wednesday. The business’s 50-day moving average price is $45.37 and its 200 day moving average price is $40.38. 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 twelve month low of $30.44 and a twelve month high of $50.85. The company has a market capitalization of $695.70 million, a PE ratio of 41.36 and a beta of 0.90.

Equity Bancshares (NASDAQ:EQBK) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.32. Equity Bancshares had a net margin of 6.36% and a return on equity of 13.53%. The company had revenue of $55.35 million during the quarter, compared to the consensus estimate of $55.77 million. On average, research analysts predict that Equity Bancshares, Inc. will post 4.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EQBK. Keefe, Bruyette & Woods boosted their target price on shares of Equity Bancshares from $43.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson boosted their price objective on shares of Equity Bancshares from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Stephens upgraded shares of Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a research 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.