StoneX reiterates Buy on Equity Bancshares stock, $59 target

StoneX has maintained its Buy rating on Equity Bancshares Inc. (NYSE: EQBK) stock and has set a target price of $59.00 per share. This follows the company's recent earnings report, where it reported earnings per share of $1.29. The stock is currently trading at $46.57, potentially offering a 27% upside from the target price, although it has already gained 14% over the past year.

StoneX projects core earnings per share of $1.32, up from its previous estimate of $1.27 and in line with consensus expectations of $1.30, with goodwill amortization adjustments taken into account. The firm anticipates a rebound in net interest margins, citing positive evidence that the company's focus on organic growth is yielding results, along with the impact of recent and pending mergers and acquisitions.

Equity Bancshares has a history of raising dividends, having increased its payout for five consecutive years with a current yield of 1.89%. Recently, the bank announced its acquisition of Lincoln Bancorp for $124 million, scheduled to close in the mid-fourth quarter, which is expected to further boost earnings per share growth. Despite a downgrade by Piper Sandler to Neutral, citing concerns over the timing of reaching a valuation comparable to peers, StoneX remains optimistic about the acquisition's strategic value, while DA Davidson lowered its price target to $54, maintaining a Neutral rating.

Additionally, Equity Bancshares declared a quarterly dividend of $0.22 per share, payable on October 15, 2026, to shareholders as of September 30, 2026. These developments illustrate a period of significant activity for the company as it navigates its latest acquisition and strategic financial initiatives.