Equity Bancshares Inc (EQBK)
NYSE:EQBK
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Equity Bancshares
(NYSE:EQBK)
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Rating:56Neutral
Price Target:
$46.00
â–¼(-1.10% Downside)
Action:ReiteratedDate: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.
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.
Read all positive and negative factors
Positive Factors
Negative 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.
Read all positive factors
Equity Bancshares (EQBK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$976.34M
Dividend Yield1.34%
Average Volume (3M)74.86K
Price to Earnings (P/E)37.4
Beta (1Y)0.89
Revenue Growth6.45%
EPS Growth8.32%
CountryUS
Employees810
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.15
Shares Outstanding20,992,140
10 Day Avg. Volume93,324
30 Day Avg. Volume74,857
Financial Highlights & Ratios
PEG Ratio-0.54
Price to Book (P/B)1.16
Price to Sales (P/S)2.70
P/FCF Ratio22.30
Enterprise Value/Market Cap0.83
Enterprise Value/Revenue2.59
Enterprise Value/Gross Profit5.14
Enterprise Value/Ebitda9.59
Forecast
1Y Price Target
$52.50Price Target Upside12.88% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)4.8
Revenue Forecast (FY)$341.84M
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 marke...
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 t...
Equity Bancshares Earnings Call Summary
Earnings Call Date:Jan 22, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 14, 2026
Earnings Call Sentiment Positive
The call emphasized significant strategic progress (two large transactions closed, substantial balance sheet growth, improved capital ratios, buybacks, and credit trends improving) while acknowledging notable near-term execution and expense integration tasks (Frontier-related expense and anticipated margin dilution), litigation accruals, and competitive pressures on pricing and deposits. Given the strong underlying results, capital position and forward guidance (> $5/sh goal) that materially outweigh the manageable integration and margin headwinds, the overall tone is constructive and confidence-driven.Positive Updates
Large Balance Sheet Growth via M&A
Assets increased from $5.3B to $6.4B in 2025, and the Frontier acquisition added ~$1.4B, described by management as nearly 50% growth year-over-year; expansion provides scale and market footprint in 6 states and 5 major metros.
Negative Updates
Merger-Related Expense and Near-Term Cost Headwinds
Frontier acquisition expected to add $23M–$24M of noninterest expense in 2026 (with only $2M–$3M of noninterest income), and management noted the merger will be dilutive to margin even as it is accretive to NII; Frontier integration costs and realizable 23% cost-save target remain execution items.
Read all updates
Q4-2025 Updates
Positive
Negative
Large Balance Sheet Growth via M&A
Assets increased from $5.3B to $6.4B in 2025, and the Frontier acquisition added ~$1.4B, described by management as nearly 50% growth year-over-year; expansion provides scale and market footprint in 6 states and 5 major metros.
Read all positive updates
Company Guidance
Management guided to drive toward more than $5.00 per share in 2026 while forecasting full‑year margin of 4.20%–4.35% (Q1 ~4.25%), with Q1 balances implying loans ≈80% of earning assets and a loan‑to‑deposit ratio ≈88%; the Frontier close (CEO cited ~$1.4B in assets, CFO noted ~$1.3B loans / $1.1B deposits) is expected to be accretive to NII but dilutive to margin and to add $23M–$24M of noninterest expense and $2M–$3M of noninterest income, with ~23% targeted cost saves and systems conversion in mid‑February (cost saves realized by end‑Q1). Recent fourth‑quarter metrics underpinning the outlook include net income $22.1M ($1.15 diluted), adjusted net income $23.3M ($1.21), NII $63.5M, GAAP margin 4.47% (core normalized ~4.36% after 12 bps purchase‑accounting), average earning assets $5.64B (up 1.21%), loan production $220M (originations at 6.77%), 75% pipeline $452M, nonaccrual loans $40.3M (down 17% QoQ), past‑due+nonaccrual 1.53%, annualized net charge‑offs 7 bps (YTD 6 bps), ending reserve ratio 1.33% (ACLO coverage 1.26%), TCE 9.9% (bank TCE 10.3%), CET1 13.1%, total capital 16.3%, and ongoing capital actions including 172,338 shares repurchased at $41.69 (872,662 shares remaining under authorization) alongside a stated appetite to use capital for both buybacks and future M&A while targeting mid‑single‑digit organic loan growth.Equity Bancshares Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
34
Negative
| 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 | 38.11M | 65.35M | 60.39M | 70.58M | 97.60M |
| Operating Cash Flow | 51.37M | 73.84M | 76.53M | 74.07M | 102.70M |
| Investing Cash Flow | 136.92M | 123.73M | 232.17M | -214.18M | -315.34M |
| Financing Cash Flow | 35.79M | -192.93M | -34.03M | -15.41M | 191.90M |
Equity Bancshares Technical Analysis
Positive
46.51
Price Trends
45.10
Positive
44.95
Positive
42.56
Positive
Market Momentum
0.28
Negative
68.17
Neutral
83.20
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EQBK, the sentiment is Positive. The current price of 46.51 is above the 20-day moving average (MA) of 44.17, above the 50-day MA of 45.10, and above the 200-day MA of 42.56, indicating a bullish trend. The MACD of 0.28 indicates Negative momentum. The RSI at 68.17 is Neutral, neither overbought nor oversold. The STOCH value of 83.20 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EQBK.
Equity Bancshares Risk Analysis
Equity Bancshares disclosed 97 risk factors in its most recent earnings report. Equity Bancshares reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Equity Bancshares Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.04B | 10.55 | 13.05% | 3.21% | 3.86% | 12.33% | |
71 Outperform | $1.12B | 11.89 | 7.51% | 3.91% | 8.27% | 54.96% | |
68 Neutral | $888.80M | 10.73 | 11.65% | 3.39% | 1.22% | 15.97% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $911.06M | 11.38 | 8.80% | 0.38% | 6.48% | 8.78% | |
64 Neutral | $924.62M | 9.76 | 8.88% | 2.68% | 11.13% | -15.28% | |
56 Neutral | $976.34M | 37.40 | 3.37% | 1.34% | 6.45% | 8.32% |
* Financial Sector Average
EQBK
Equity Bancshares
46.36
11.63
33.47%
CCNE
Cnb Financial
31.20
11.16
55.66%
CPF
Central Pacific Financial
33.62
10.46
45.19%
HFWA
Heritage Financial
27.30
7.17
35.63%
MCB
Metropolitan Bank Holding
89.84
40.65
82.65%
HBT
HBT Financial
28.25
7.46
35.91%
Equity Bancshares Corporate Events
Dividends
Equity Bancshares Declares Quarterly Cash Dividend for Shareholders
Positive
Feb 23, 2026
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 ...
Business Operations and StrategyPrivate Placements and Financing
Equity Bancshares Extends Key Credit Facility with ServisFirst
Positive
Feb 17, 2026
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 ...
Executive/Board Changes
Equity Bancshares Announces Upcoming Director Board Resignation
Neutral
Jan 22, 2026
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 20...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A Transactions
Equity Bancshares closes Frontier acquisition, expands regional footprint
Positive
Jan 21, 2026
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 a...
Business Operations and StrategyM&A Transactions
Equity Bancshares completes Frontier merger, expands Nebraska presence
Positive
Jan 2, 2026
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. T...
Dividends
Equity Bancshares Announces Quarterly Cash Dividend
Neutral
Dec 11, 2025
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 rati...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.