Equity Bancshares Posts Q3 Adjusted EPS of $1.40, Beating Estimates
EQBK sits 20% above its 52-week low of $38.6.
Summary
Equity Bancshares reported third-quarter adjusted earnings per share of $1.40, exceeding the consensus estimate, while GAAP EPS was $1.29. Net interest income was $72.8 million and noninterest income was $10.9 million. Core EPS rose on loan growth, and the company lifted its dividend 22% to $0.22 per share. Fee revenue climbed. This follows a strong Q2 where net income reached $26.4 million and net interest margin expanded to 4.36%. The company guided Q4 net interest margin to 4.25-4.35%. The beat comes amid the pending $123.8M acquisition of Lincoln Bancorp, which is expected to add 16 Iowa branches and $1.7B in assets. The company also has an active $51.5M share repurchase program approved in August. The earnings beat reinforces the positive trajectory from recent acquisitions and buyback activity.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Equity Bancshares raised its quarterly dividend 22% to $0.22 per share and guided Q4 net interest margin to 4.25-4.35%.
At the time of this announcement, EQBK was trading at $46.48 on NYSE in the Finance sector, with a market capitalization of approximately $959M. The 52-week trading range was $38.60 to $52.27. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.