Randee R. Koger, a director at Equity Bancshares Inc . (NASDAQ:NYSE:EQBK), recently acquired 500 shares of Class A common stock. The company, with a market capitalization of $826 million, has shown remarkable strength with an 81.2% return over the past year and currently trades near its 52-week high of $50.84. The purchase, which took place on December 4, 2024, was made at a price of $44.50 per share, totaling $22,250. This transaction was part of a directed share program, bringing Koger's total holdings to 61,101 shares. According to InvestingPro analysis, EQBK trades at a P/E ratio of 42.6 and offers a dividend yield of 1.25%, having raised its dividend for three consecutive years. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro subscribers can access the detailed Pro Research Report, available for over 1,400 US stocks.
In other recent news, Equity Bancshares has reported notable financial developments. The company posted a net income of $19.8 million for the third quarter, along with significant loan growth. Adjusted for merger expenses related to the KansasLand transaction, the net income stood at $20.2 million. The successful completion of the merger with KansasLand was another key highlight.
DA Davidson, in its recent analysis, has revised the price target for Equity Bancshares to $45, up from the previous $42, maintaining a neutral rating on the stock. The firm's revisions include an improved net interest income outlook for 2025, counterbalanced by anticipated increased core expenses. For 2024, the EPS estimate was revised downwards from $3.65 to $3.45 due to a negative variance in Q3, but the 2025 EPS estimate was raised from $3.90 to $4.15, signaling confidence in the bank's potential to grow its earnings.
Recent developments also include a projected mid to high single-digit organic loan growth for 2024 and 2025, backed by a strong pipeline of $448 million in loans. Equity Bancshares also anticipates a rebound in public fund deposits and significant deposit growth. The company's financial management strategy positions it well for potential rate cuts, with a significant portion of its funding costs able to decrease.
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