Wichita, Kan.—Richard M. Sems, Chief Executive Officer of Equity Bancshares Inc . (NASDAQ:NYSE:EQBK), recently acquired 1,100 shares of the company's Class A common stock. The transaction, executed on December 4, 2024, was valued at approximately $48,950, with a purchase price of $44.50 per share. The stock, which has delivered an impressive 81.2% return over the past year, currently trades at $48.28. According to InvestingPro analysis, analyst price targets range from $45 to $56.
Following this acquisition, Sems holds a total of 12,009 shares directly. Notably, these newly acquired shares were part of a directed share program. This transaction adds to his previous purchases earlier in the year, which were made under the company's 2019 Employee Stock Purchase Plan. The $826 million market cap company currently trades at a P/E ratio of 42.6 and offers a 1.25% dividend yield. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report for deeper analysis of EQBK's valuation and growth prospects.
In other recent news, Equity Bancshares reported a net income of $19.8 million for the third quarter, alongside a significant increase in loan balances by $147 million. The bank also successfully completed its merger with KansasLand, and announced a 25% dividend increase. These are some of the recent developments in the company.
DA Davidson has adjusted its price target for Equity Bancshares to $45.00, up from a previous $42.00, while maintaining a Neutral rating on the stock. The firm has revised its earnings per share (EPS) estimate for 2024 downward from $3.65 to $3.45, but raised its 2025 EPS estimate from $3.90 to $4.15.
Looking ahead, Equity Bancshares projects mid to high single-digit organic loan growth for 2024 and 2025, backed by a robust pipeline of $448 million in loans. The company is also anticipating a rebound in public fund deposits and significant deposit growth.
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