Equity BancShares (EQBK) Declares $0.10 Dividend

Equity BancShares said on March 20, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.

At the current share price of $24.72 / share, the stock's dividend yield is 1.62%. Looking back five years and taking a sample every week, the average dividend yield has been 1.41%, the lowest has been 0.91%, and the highest has been 2.88%. The standard deviation of yields is 0.49 (n=236).

The current dividend yield is 0.41 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.11. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 41.12% Upside

As of March 22, 2023, the average one-year price target for Equity BancShares is $34.88. The forecasts range from a low of $32.32 to a high of $37.80. The average price target represents an increase of 41.12% from its latest reported closing price of $24.72.

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The projected annual revenue for Equity BancShares is $215MM, an increase of 8.66%. The projected annual non-GAAP EPS is $3.69.

What is the Fund Sentiment?

There are 275 funds or institutions reporting positions in Equity BancShares. This is an increase of 2 owner(s) or 0.73% in the last quarter. Average portfolio weight of all funds dedicated to EQBK is 0.08%, a decrease of 34.61%. Total shares owned by institutions increased in the last three months by 3.35% to 11,582K shares.

What are Large Shareholders Doing?

T. Rowe Price Investment Management holds 1,370K shares representing 8.67% ownership of the company. In it's prior filing, the firm reported owning 1,373K shares, representing a decrease of 0.17%. The firm increased its portfolio allocation in EQBK by 5.72% over the last quarter.

FJ Capital Management holds 1,032K shares representing 6.53% ownership of the company. In it's prior filing, the firm reported owning 1,082K shares, representing a decrease of 4.85%. The firm decreased its portfolio allocation in EQBK by 99.90% over the last quarter.

Patriot Financial Partners Gp holds 848K shares representing 5.37% ownership of the company. No change in the last quarter.

OTCFX - T. Rowe Price Small-Cap Stock Fund holds 650K shares representing 4.11% ownership of the company. In it's prior filing, the firm reported owning 652K shares, representing a decrease of 0.28%. The firm increased its portfolio allocation in EQBK by 7.20% over the last quarter.

RMB Capital Management holds 450K shares representing 2.85% ownership of the company. No change in the last quarter.

Equity Bancshares Background Information
(This description is provided by the company.)

Equity Bancshares, Inc. is the holding company for Equity Bank, offering a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, trust and wealth management services and treasury management services, while delivering the high-quality, relationship-based customer service of a community bank.

This story originally appeared on Fintel.