Equity Bancshares, Inc. (NASDAQ:EQBK – Get Rating) – Research analysts at DA Davidson reduced their Q1 2023 earnings per share estimates for shares of Equity Bancshares in a report released on Wednesday, April 5th. DA Davidson analyst J. Rulis now expects that the bank will earn $0.77 per share for the quarter, down from their previous forecast of $0.78. The consensus estimate for Equity Bancshares’ current full-year earnings is $3.17 per share. DA Davidson also issued estimates for Equity Bancshares’ FY2023 earnings at $3.05 EPS and FY2024 earnings at $3.05 EPS.
Separately, StockNews.com started coverage on Equity Bancshares in a research report on Thursday, March 16th. They set a “hold” rating on the stock.
Equity Bancshares Stock Up 1.2 %
Equity Bancshares (NASDAQ:EQBK – Get Rating) last announced its earnings results on Wednesday, January 25th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.06). Equity Bancshares had a net margin of 25.73% and a return on equity of 14.55%. The business had revenue of $50.36 million for the quarter, compared to the consensus estimate of $50.89 million.
Equity Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, March 30th. Equity Bancshares’s dividend payout ratio (DPR) is currently 11.36%.
Insider Buying and Selling
In other news, CFO Eric R. Newell purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were acquired at an average cost of $26.80 per share, with a total value of $26,800.00. Following the purchase, the chief financial officer now owns 42,522 shares in the company, valued at $1,139,589.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Equity Bancshares news, CFO Eric R. Newell purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of $26.80 per share, with a total value of $26,800.00. Following the completion of the transaction, the chief financial officer now owns 42,522 shares of the company’s stock, valued at approximately $1,139,589.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Craig L. Anderson sold 1,275 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $30.65, for a total value of $39,078.75. Following the sale, the president now directly owns 32,445 shares of the company’s stock, valued at $994,439.25. The disclosure for this sale can be found here. In the last three months, insiders have bought 5,500 shares of company stock valued at $149,660 and have sold 5,966 shares valued at $179,872. 8.00% of the stock is owned by company insiders.
Institutional Trading of Equity Bancshares
A number of institutional investors and hedge funds have recently modified their holdings of EQBK. Dorsey Wright & Associates bought a new position in Equity Bancshares during the fourth quarter valued at $25,000. Quadrant Capital Group LLC bought a new position in Equity Bancshares during the third quarter valued at $30,000. Metropolitan Life Insurance Co NY grew its holdings in Equity Bancshares by 40.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,113 shares of the bank’s stock valued at $36,000 after purchasing an additional 320 shares during the period. Tower Research Capital LLC TRC grew its holdings in Equity Bancshares by 153.5% during the third quarter. Tower Research Capital LLC TRC now owns 2,162 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,309 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Equity Bancshares during the fourth quarter valued at $76,000. 59.73% of the stock is owned by hedge funds and other institutional investors.
About Equity Bancshares
Equity Bancshares, Inc is a bank holding company, which engages in the provision of financial services to individuals and businesses. The firm also offers commercial and personal banking services such as savings, treasury management and loans. The company was founded by Brad S. Elliott in November 2002 and is headquartered in Wichita, KS.
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