Equity Bancshares (EQBK) AI Stock Analysis

• Market Cap: $929.32M
• Dividend Yield: 1.34%
• Average Volume (3M): 74.86K
• Price to Earnings (P/E): 37.4
• Beta (1Y): 0.93
• Revenue Growth: 6.45%
• EPS Growth: 8.32%
• Country: US
• Employees: 810
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 1.15
• Shares Outstanding: 20,992,140
• 10 Day Avg. Volume: 93,324
• 30 Day Avg. Volume: 74,857
• PEG Ratio: -0.54
• Price to Book (P/B): 1.16
• Price to Sales (P/S): 2.70
• P/FCF Ratio: 22.06
• Enterprise Value/Market Cap: 0.83
• Enterprise Value/Revenue: 2.44
• Enterprise Value/Gross Profit: 4.84
• Enterprise Value/Ebitda: 9.04
• 1Y Price Target: $52.50
• Price Target Upside: 18.59% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): 4.85
• Revenue Forecast (FY): $340.72M

• Rating: 56 Neutral
• Price Target: $46.00 ▲(3.91% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

EQBK scores as neutral: the biggest drag is weakened TTM profitability and especially the breakdown in operating/free cash flow, partially offset by a constructive earnings-call outlook (2026 EPS target, solid capital, improving credit). Technicals remain bearish and valuation (P/E 37.4 with ~1.48% yield) offers limited support.

Positive Factors

Scale & Market Expansion via M&A

The Frontier close materially increases scale and geographic reach, adding lending capacity, deposits and new markets. Larger asset base and branch footprint support diversified revenue, stronger local-market presence and better economics for future organic growth and M&A activity over the next 2–6 months.

Improved Capital & Buyback Capacity

Elevated tangible common equity and regulatory capital ratios provide a durable buffer for loan growth, buybacks and M&A. Strong capital coverage enhances regulatory flexibility, supports balance-sheet expansion and allows management to allocate capital between returns and strategic investments without immediate solvency pressure.

Credit Metrics & Loan Pipeline

Improving asset quality and very low net charge‑offs indicate resilient underwriting and credit performance, reducing tail risk on earnings. A sizeable loan production pipeline and mid-single-digit organic loan growth target support sustainable interest income expansion beyond near-term acquisition benefits.

Negative Factors

Weak Cash Generation

Operating cash flow collapsed to zero and FCF turned negative, undermining the quality of reported earnings and limiting internal funding for dividends, buybacks or integration costs. If cash conversion does not recover, capital actions and discretionary investment capacity will be constrained.

Profitability Decline & Volatility

A sharp fall in net income and margin signals weaker core profitability and lower returns on equity, reducing the bank's ability to steadily generate retained earnings. Historical volatility in earnings implies less predictability in funding growth, capital returns and in meeting multi-quarter profit targets.

Merger-Related Expense & Margin Pressure

Significant incremental noninterest expense and expected margin dilution from the acquisition create a structural near-term headwind. Realizing targeted cost saves requires execution; failure to achieve them would compress profitability and delay the accretive benefits of scale.

Equity Bancshares Business Overview & Revenue Model

Company Description

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-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses. The company's loan products also comprise various consumer loans to individuals and professionals, including residential real estate loans, home equity loans and lines of credit, installment loans, unsecured and secured personal lines of credit, overdraft protection, and letters of credit. It also provides debit cards; online banking solutions, such as access to account balances, online transfers, online bill payment, and electronic delivery of customer statements; mobile banking solutions comprising remote check deposits with mobile bill pay; ATMs; and treasury management, wire transfer, automated clearing house, and stop payment services. In addition, the company offers cash management deposit products, such as lockbox, remote deposit capture, positive pay, reverse positive pay, account reconciliation services, zero balance accounts, and sweep accounts, as well as banking services through telephone, mail, and personal appointments. As of December 31, 2021, it operated a network of 69 branches in Arkansas, Kansas, Missouri, and Oklahoma. The company was founded in 2002 and is headquartered in Wichita, Kansas.

How the Company Makes Money

Equity Bancshares generates revenue primarily through interest income from loans and fees associated with various banking services. The company's key revenue streams include interest income from commercial, residential, and consumer loans, which typically represent the largest portion of its earnings. Additionally, Equity Bank earns non-interest income through service fees, transaction fees, and wealth management services. The company also benefits from its strategic partnerships with local businesses and community organizations, enhancing its market reach and customer loyalty. Overall, the bank's diversified financial services portfolio and focus on customer relationships contribute significantly to its revenue generation.

Equity Bancshares Financial Statement Overview

Summary

Mixed fundamentals: modest TTM revenue growth (+5.8%) and a reasonably levered balance sheet (debt-to-equity 0.61), but profitability weakened sharply (net income down to $22.7M; net margin down to 7.2%) and cash flow is the primary concern with $0 operating cash flow and -$13.0M free cash flow in the latest TTM.

Income Statement

TTM (Trailing-Twelve-Months) revenue is up 5.8%, but profitability has weakened materially versus 2024: net income fell to $22.7M from $62.6M and net margin dropped to 7.2% from 19.2%. Longer-term results show the business can generate strong margins in good years (2021–2022) but earnings have been more volatile (notably the 2020 loss and the sharp step-down in the latest TTM).

Balance Sheet

Leverage looks moderate for a regional bank, with TTM debt-to-equity at 0.61 (higher than 2024’s 0.53 but improved versus 2023’s 0.84). Equity has grown to $732.1M alongside a larger asset base ($6.37B), supporting balance-sheet capacity. The main drawback is profitability on equity in the latest TTM is low (3.4%) compared with 2024 (10.6%), implying reduced efficiency in generating returns from the capital base.

Cash Flow

Cash generation is the key weak spot: TTM shows $0 operating cash flow and negative free cash flow of -$13.0M, a sharp reversal from 2024’s $73.8M operating cash flow and $65.4M free cash flow. Free cash flow also does not cover net income in the latest TTM (0.0x), raising concerns about earnings quality and/or working-capital or timing effects, even though prior years generally showed strong free-cash conversion.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	314.26M	326.51M	224.68M	220.28M	186.81M
Gross Profit	158.37M	217.67M	135.63M	194.99M	180.59M
EBITDA	84.83M	88.54M	11.05M	79.65M	73.34M
Net Income	22.73M	62.62M	7.82M	57.69M	52.48M
Balance Sheet
Total Assets	6.37B	5.33B	5.03B	4.98B	5.14B
Cash, Cash Equivalents and Short-Term Investments	1.64B	1.19B	1.28B	1.29B	1.59B
Total Debt	448.22M	312.80M	380.50M	281.73M	151.89M
Total Liabilities	5.64B	4.74B	4.58B	4.57B	4.64B
Stockholders Equity	732.05M	592.92M	452.86M	410.06M	500.63M
Cash Flow
Free Cash Flow	38.54M	65.35M	60.39M	70.58M	97.60M
Operating Cash Flow	51.79M	73.84M	76.53M	74.07M	102.70M
Investing Cash Flow	0.00	123.73M	232.17M	-214.18M	-315.34M
Financing Cash Flow	0.00	-192.93M	-34.03M	-15.41M	191.90M

Equity Bancshares Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 44.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EQBK, the sentiment is Negative. The current price of 44.27 is below the 20-day moving average (MA) of 45.09, below the 50-day MA of 45.89, and above the 200-day MA of 42.37, indicating a neutral trend. The MACD of -0.60 indicates Positive momentum. The RSI at 41.45 is Neutral, neither overbought nor oversold. The STOCH value of 34.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EQBK.

Equity Bancshares Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HFWA	71 Outperform	$1.04B	9.03	7.51%	3.91%	8.27%	54.96%
HBT	70 Outperform	$980.17M	10.73	13.78%	3.21%	3.86%	12.33%
CPF	68 Neutral	$805.26M	10.73	11.65%	3.39%	1.22%	15.97%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
MCB	65 Neutral	$801.50M	11.38	8.80%	0.38%	6.48%	8.78%
CCNE	64 Neutral	$812.60M	9.76	8.88%	2.68%	11.13%	-15.28%
EQBK	56 Neutral	$929.32M	37.40	3.37%	1.34%	6.45%	8.32%

Equity Bancshares Corporate Events

Equity Bancshares Declares Quarterly Cash Dividend for Shareholders

On February 18, 2026, Equity Bancshares, Inc. announced that its board of directors declared a quarterly cash dividend of $0.18 per share on its common stock. The dividend is scheduled to be paid on April 15, 2026, to shareholders of record as of the close of business on March 31, 2026, underscoring the company’s ongoing practice of returning capital to investors through regular cash distributions.

The timing and level of the dividend reflect the board’s current confidence in Equity Bancshares’ financial position and cash-generating capacity. For income-focused investors and existing shareholders, the declaration provides visibility into near-term cash returns and signals stability in the company’s capital management strategy within the banking sector.

The most recent analyst rating on (EQBK) stock is a Hold with a $48.00 price target. To see the full list of analyst forecasts on Equity Bancshares stock, see the EQBK Stock Forecast page.

Equity Bancshares Extends Key Credit Facility with ServisFirst

On February 13, 2026, Equity Bancshares, Inc. entered into a ninth amendment to its Loan and Security Agreement with ServisFirst Bank, under which the company is the borrower. The amendment extends the maturity date of the credit commitment under that facility to February 10, 2027, securing continued access to this line of credit and supporting the company’s ongoing funding flexibility and capital management.

The amended arrangement indicates that Equity Bancshares is maintaining its established banking relationship with ServisFirst Bank while preserving committed borrowing capacity for at least another year. For stakeholders, the extension underscores the company’s ability to renew key financing agreements, which may help stabilize its liquidity profile and support future operational and strategic needs.

The most recent analyst rating on (EQBK) stock is a Hold with a $48.00 price target. To see the full list of analyst forecasts on Equity Bancshares stock, see the EQBK Stock Forecast page.

Equity Bancshares Announces Upcoming Director Board Resignation

On January 21, 2026, Equity Bancshares, Inc. announced that longtime director Randee R. Koger will resign from its Board of Directors effective at the company’s 2026 Annual Meeting of Stockholders. Koger, who has served on the board since 2003 and sits on the Compensation Committee, will remain in both roles until that meeting, and the company emphasized that her decision to step down was not due to any disagreement over operations, policies, or practices, suggesting an orderly governance transition with no immediate operational or strategic dispute underlying the change.

The most recent analyst rating on (EQBK) stock is a Buy with a $57.00 price target. To see the full list of analyst forecasts on Equity Bancshares stock, see the EQBK Stock Forecast page.

Equity Bancshares closes Frontier acquisition, expands regional footprint

For the fourth quarter ended December 31, 2025, Equity Bancshares reported net income of $22.1 million, or $1.15 per diluted share, compared with a net loss in the prior quarter, with adjusted earnings of $23.2 million, or $1.21 per share, after acquisition-related costs. Net interest margin expanded to 4.47%, full-year 2025 net interest income rose 21.4% to $226.1 million on margin expansion and balance-sheet growth, and loan and deposit balances increased sharply year over year, aided by the NBC acquisition. On January 1, 2026, the company closed its acquisition of Frontier Holdings LLC, adding roughly $1.34 billion in loans and $1.1 billion in deposits and marking its entry into Nebraska, while maintaining solid asset quality with low net charge-offs and a 1.26% allowance for credit losses. Capital and book value strengthened, with tangible book value per share rising to $32.86 and regulatory capital ratios improving, even as Equity paid a $0.18 common dividend and repurchased 172,338 shares, underscoring management’s confidence in the bank’s financial position and its strategy to build scale as a premier community bank and merger partner in its markets.

The most recent analyst rating on (EQBK) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on Equity Bancshares stock, see the EQBK Stock Forecast page.

Equity Bancshares completes Frontier merger, expands Nebraska presence

On January 1, 2026, Equity Bancshares, Inc. completed its merger with Omaha-based Frontier Holdings LLC, parent of Frontier Bank, entering the Nebraska market with seven new locations that reopened under the Equity Bank brand on January 2, 2026. The deal, first announced on September 2, 2025, expands Equity’s footprint to six states, boosts pro forma consolidated assets to approximately $7.9 billion, and is positioned by management as a strategic growth step that enhances lending capacity, digital capabilities, and community banking reach for customers and stakeholders across its regional network, with core and digital system consolidation scheduled for February 2026.

The most recent analyst rating on (EQBK) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on Equity Bancshares stock, see the EQBK Stock Forecast page.

Equity Bancshares Announces Quarterly Cash Dividend

On December 10, 2025, Equity Bancshares, Inc. announced a quarterly cash dividend of $0.18 per share of common stock. This dividend will be distributed on January 15, 2026, to shareholders recorded by December 31, 2025.

The most recent analyst rating on (EQBK) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on Equity Bancshares stock, see the EQBK Stock Forecast page.