Equity Bancshares price target raised to $40 from $38 at Piper Sandler

Piper Sandler raised the firm’s price target on Equity Bancshares to $40 from $38 and keeps an Overweight rating on the shares following the company’s investor day. An afternoon of meetings provided a broad discussion covering growth opportunities, credit administration, efficiency enhancements, the path to $10B in assets and a slight refresh to its guidance. Piper came away with increased confidence in the company’s growth strategy, excited management team and long-term outlook.