DA Davidson Brokers Decrease Earnings Estimates for EQBK

Equity Bancshares, Inc. (NASDAQ:EQBK) – Investment analysts at DA Davidson lowered their Q4 2024 earnings estimates for Equity Bancshares in a research note issued on Monday, December 9th. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings per share of $0.90 for the quarter, down from their prior estimate of $0.93. DA Davidson has a “Neutral” rating and a $45.00 price objective on the stock. The consensus estimate for Equity Bancshares’ current full-year earnings is $4.27 per share.

Equity Bancshares (NASDAQ:EQBK) last released its quarterly earnings data on Tuesday, October 15th. The bank reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.32. The firm had revenue of $55.35 million during the quarter, compared to the consensus estimate of $55.77 million. Equity Bancshares had a return on equity of 13.53% and a net margin of 6.36%.

A number of other brokerages have also recently commented on EQBK. Stephens raised shares of Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price objective on the stock in a research note on Monday, October 14th. Keefe, Bruyette & Woods upped their price target on shares of Equity Bancshares from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Equity Bancshares Price Performance

Equity Bancshares stock opened at $47.67 on Tuesday. Equity Bancshares has a fifty-two week low of $30.44 and a fifty-two week high of $50.85. The firm has a market capitalization of $728.87 million, a price-to-earnings ratio of 43.34 and a beta of 0.90. The stock’s fifty day moving average is $44.92 and its two-hundred day moving average is $40.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.86.

Insider Buying and Selling

In other Equity Bancshares news, CEO Brad S. Elliott sold 2,300 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.64, for a total transaction of $98,072.00. Following the sale, the chief executive officer now directly owns 151,979 shares of the company’s stock, valued at $6,480,384.56. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equity Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in Equity Bancshares by 7.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,213 shares of the bank’s stock valued at $131,000 after buying an additional 232 shares during the period. Foundations Investment Advisors LLC acquired a new stake in shares of Equity Bancshares in the third quarter worth approximately $203,000. SG Americas Securities LLC grew its holdings in Equity Bancshares by 74.1% in the third quarter. SG Americas Securities LLC now owns 5,052 shares of the bank’s stock valued at $207,000 after purchasing an additional 2,150 shares during the period. Triune Financial Partners LLC acquired a new position in Equity Bancshares during the third quarter worth approximately $268,000. Finally, PDT Partners LLC purchased a new position in Equity Bancshares during the third quarter worth approximately $282,000. Hedge funds and other institutional investors own 71.80% of the company’s stock.

Equity Bancshares Company 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.