Hovde Group Issues Positive Forecast for Equity Bancshares (NASDAQ:EQBK) Stock Price

Equity Bancshares (NASDAQ:EQBK) had its price target lifted by Hovde Group from $56.00 to $57.00 in a research report issued on Thursday, MarketBeat reports. The brokerage currently has an “outperform” rating on the bank’s stock. Hovde Group’s target price indicates a potential upside of 31.74% from the company’s current price.

EQBK has been the topic of a number of other reports. DA Davidson lifted their price objective on Equity Bancshares from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted 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. Finally, Stephens upgraded shares of 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, October 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Equity Bancshares Price Performance

Shares of Equity Bancshares stock opened at $43.27 on Thursday. The stock has a market cap of $661.55 million, a P/E ratio of 10.87 and a beta of 0.92. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s fifty day moving average is $44.65 and its 200 day moving average is $42.05. Equity Bancshares has a one year low of $30.44 and a one year high of $50.85.

Hedge Funds Weigh In On Equity Bancshares

Hedge funds have recently modified their holdings of the stock. Mendon Capital Advisors Corp grew its stake in Equity Bancshares by 2,539.9% during the second quarter. Mendon Capital Advisors Corp now owns 350,000 shares of the bank’s stock valued at $12,320,000 after acquiring an additional 336,742 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Equity Bancshares by 175.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 112,292 shares of the bank’s stock valued at $4,590,000 after purchasing an additional 71,547 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Equity Bancshares in the third quarter worth about $2,809,000. JPMorgan Chase & Co. lifted its position in shares of Equity Bancshares by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 360,457 shares of the bank’s stock worth $14,735,000 after buying an additional 17,431 shares in the last quarter. Finally, Barclays PLC boosted its stake in Equity Bancshares by 247.2% during the third quarter. Barclays PLC now owns 23,308 shares of the bank’s stock valued at $953,000 after buying an additional 16,595 shares during the last quarter. Hedge funds and other institutional investors own 71.80% of the company’s stock.

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.