Equity Bancshares (NASDAQ:EQBK) Given New $46.00 Price Target at DA Davidson

Equity Bancshares (NASDAQ:EQBK) had its price objective reduced by equities researchers at DA Davidson from $50.00 to $46.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. DA Davidson’s target price suggests a potential upside of 6.32% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Hovde Group upped their target price on shares of Equity Bancshares from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on Equity Bancshares from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens raised Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Equity Bancshares has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Equity Bancshares Stock Performance

NASDAQ EQBK opened at $43.27 on Thursday. The company’s fifty day moving average is $44.65 and its two-hundred day moving average is $42.05. Equity Bancshares has a 52-week low of $30.44 and a 52-week high of $50.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $661.55 million, a price-to-earnings ratio of 10.87 and a beta of 0.92.

Institutional Investors Weigh In On Equity Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in Equity Bancshares in the 4th quarter valued at approximately $54,000. BNP Paribas Financial Markets lifted its position in shares of Equity Bancshares by 7.8% in the third quarter. BNP Paribas Financial Markets now owns 3,213 shares of the bank’s stock worth $131,000 after purchasing an additional 232 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in Equity Bancshares during the third quarter worth $203,000. SG Americas Securities LLC boosted its holdings in Equity Bancshares by 74.1% during the third quarter. SG Americas Securities LLC now owns 5,052 shares of the bank’s stock worth $207,000 after purchasing an additional 2,150 shares during the last quarter. Finally, Triune Financial Partners LLC bought a new position in Equity Bancshares in the third quarter valued at $268,000. 71.80% of the stock is currently owned by institutional investors and hedge funds.

About Equity Bancshares

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.