MN Wealth Advisors LLC Cuts Stake in Equity Bancshares, Inc. (NASDAQ:EQBK)

MN Wealth Advisors LLC reduced its stake in shares of Equity Bancshares, Inc. (NASDAQ:EQBK) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,648 shares of the bank’s stock after selling 247 shares during the quarter. MN Wealth Advisors LLC’s holdings in Equity Bancshares were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Equity Bancshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 754,069 shares of the bank’s stock valued at $25,917,000 after purchasing an additional 10,868 shares in the last quarter. Mendon Capital Advisors Corp grew its holdings in shares of Equity Bancshares by 2,539.9% in the second quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock valued at $12,320,000 after purchasing an additional 336,742 shares in the last quarter. Foundry Partners LLC grew its holdings in shares of Equity Bancshares by 890.4% in the second quarter. Foundry Partners LLC now owns 104,985 shares of the bank’s stock valued at $3,695,000 after purchasing an additional 94,385 shares in the last quarter. Creative Planning grew its holdings in shares of Equity Bancshares by 4.4% in the third quarter. Creative Planning now owns 80,133 shares of the bank’s stock valued at $3,276,000 after purchasing an additional 3,399 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Equity Bancshares by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 79,831 shares of the bank’s stock valued at $2,810,000 after purchasing an additional 3,838 shares in the last quarter. 71.80% of the stock is owned by hedge funds and other institutional investors.

Equity Bancshares Stock Up 2.9 %

NASDAQ:EQBK opened at $43.30 on Wednesday. Equity Bancshares, Inc. has a twelve month low of $22.78 and a twelve month high of $43.90. The company has a market cap of $660.45 million, a price-to-earnings ratio of 72.17 and a beta of 0.89. The stock has a fifty day simple moving average of $39.52 and a 200-day simple moving average of $36.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.75.

Equity Bancshares (NASDAQ:EQBK) last released its earnings results on Tuesday, July 16th. The bank reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.07. Equity Bancshares had a return on equity of 12.43% and a net margin of 3.75%. The business had revenue of $55.43 million during the quarter, compared to the consensus estimate of $54.56 million. Analysts anticipate that Equity Bancshares, Inc. will post 4.01 EPS for the current year.

Equity Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.39%. This is an increase from Equity Bancshares’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, September 30th. Equity Bancshares’s dividend payout ratio (DPR) is 100.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EQBK shares. Keefe, Bruyette & Woods raised their target price on shares of Equity Bancshares from $38.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Stephens upgraded Equity Bancshares from an “equal weight” rating to an “overweight” rating and set a $46.00 price target for the company in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Equity Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Insider Transactions at Equity Bancshares

In other Equity Bancshares news, Director Leon Borck bought 1,467 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of $38.77 per share, for a total transaction of $56,875.59. Following the completion of the transaction, the director now owns 11,941 shares in the company, valued at $462,952.57. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Brad S. Elliott sold 2,300 shares of Equity Bancshares stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.64, for a total value of $98,072.00. Following the completion of the sale, the chief executive officer now directly owns 151,979 shares in the company, valued at $6,480,384.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leon Borck acquired 1,467 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $38.77 per share, with a total value of $56,875.59. Following the completion of the acquisition, the director now directly owns 11,941 shares of the company’s stock, valued at $462,952.57. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 33,101 shares of company stock worth $1,351,925. 8.00% of the stock is currently owned by insiders.

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.