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Equity Bancshares Inc (EQBK)
NYSE:EQBK
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.91Last Year’s EPS
-$1.84Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 15, 2024
|% Change Since: -2.56%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Positive
The earnings call highlights several positive aspects, including record results in various areas, significant loan and dividend growth, successful bank mergers, and strong asset quality metrics. However, there are challenges such as flat net interest income, an increase in nonaccrual loans, inflationary impacts on smaller borrowers, and higher costs of interest-bearing deposits. Overall, the highlights outweigh the lowlights, indicating a positive sentiment.Company Guidance
During the Equity Bancshares Third Quarter 2024 Earnings Call, the guidance provided was optimistic, with several key metrics discussed. The company reported a net income of $19.8 million or $1.28 per diluted share, which, after adjustments for merger expenses and gains on security sales, amounted to $20.2 million or $1.31 per diluted share. The net interest margin was stable at 3.87%, down slightly from 3.94% the previous quarter, with expectations for future expansion. Noninterest income exceeded the quarter's outlook, bolstered by an $831,000 gain from the KansasLand transaction. Loan balances increased by $147 million, and a significant $8.5 million income was realized from a resolved defaulted loan. The company closed its second bank merger of 2024, with tangible book value per share growing by 10.4%, and the TCE ratio stood at 8.21%. Looking ahead, Equity Bancshares anticipates mid- to high single-digit organic loan growth in 2024 and 2025, with a focus on expanding customer relationships and maintaining a strong balance sheet.Record Results in Many Areas
Equity Bancshares reported record results in multiple areas, including a significant recovery in AOCI due to bond restructuring and steady net interest margins. A noteworthy final payment from a defaulted borrower resulted in gross income of $8.5 million.
Loan and Dividend Growth
Period-end loan balances increased by $147 million, with a 25% increase in dividends and tangible book value per share growth of 10.4%.
Successful Bank Merger
Closed and converted the second bank merger of 2024 with KansasLand, which was completed 71 days after announcement.
Positive Asset Quality Metrics
Total classified loans decreased to $48.7 million, with net charge-offs annualized at 18 basis points for the quarter.
Strong Loan Origination
Loan originations totaled $246 million with a weighted average coupon of 7.75%, positioning the bank for improved earnings in the fourth quarter.
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EQBK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EQBK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 15, 2024 | $43.43 | $44.34 | +2.10% |
| Jul 16, 2024 | $40.25 | $40.51 | +0.65% |
| Apr 16, 2024 | $31.61 | $31.57 | -0.13% |
| Jan 24, 2024 | $33.79 | $33.19 | -1.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Equity Bancshares Inc (EQBK) report earnings?
Equity Bancshares Inc (EQBK) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Equity Bancshares Inc (EQBK) earnings time?
Equity Bancshares Inc (EQBK) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EQBK EPS forecast?
EQBK EPS forecast for the fiscal quarter 2024 (Q4) is $0.91.
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