Stephens lowered the firm's price target on Equity Bancshares to $49 from $52 and keeps an Overweight rating on the shares. Equity reported Q4 operating EPS of 97c, beating the consensus of 91c, and internal efforts to accelerate loan and fee income "should come to fruition in 2025," the analyst tells investors. Given last quarter's capital raise and easing regulation, the firm "would be surprised if one or two deals were not announced this year, which history tells us would be accretive to earnings," the analyst added.