Shares of Equity Bancshares (EQBK) tumbled 11.27% in after-hours trading on Monday following the release of its second-quarter earnings report, which fell short of analysts' expectations. The sharp decline suggests investors were disappointed with the company's financial performance for the quarter.
The Kansas-based bank holding company reported a net income of $15.3 million for the second quarter, missing the IBES estimate of $15.8 million. Equity Bancshares posted earnings per share (EPS) of $0.86, with a basic EPS of $0.87. The company's net interest income for the quarter stood at $49.802 million.
While the company did show profitability, the failure to meet market expectations appears to have rattled investors, leading to the significant after-hours sell-off. The banking sector has been under pressure due to various economic factors, and this earnings miss may have exacerbated concerns about Equity Bancshares' growth prospects in the current financial environment. Investors will likely be watching closely for any forward guidance or management commentary that could provide more context for the company's performance and outlook.
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