EQB (TSE:EQB) Share Price Crosses Below 200 Day Moving Average – What’s Next?

EQB Inc. (TSE:EQB)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$95.84 and traded as low as C$88.29. EQB shares last traded at C$88.40, with a volume of 132,277 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. CIBC dropped their price objective on shares of EQB from C$126.00 to C$116.00 and set a “hold” rating for the company in a research note on Friday, August 29th. National Bankshares dropped their price objective on shares of EQB from C$104.00 to C$89.00 and set a “sector perform” rating for the company in a research note on Thursday, August 28th. Desjardins dropped their price objective on shares of EQB from C$110.00 to C$103.00 and set a “buy” rating for the company in a research note on Friday, August 29th. Scotiabank lifted their price objective on shares of EQB from C$94.00 to C$96.00 in a research note on Friday, October 10th. Finally, BMO Capital Markets lifted their price objective on shares of EQB from C$100.00 to C$108.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$103.90.

EQB Trading Down 0.9%

The firm’s 50-day moving average price is C$92.72 and its 200 day moving average price is C$95.84. The company has a market capitalization of C$3.39 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.34 and a beta of 1.13.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 30th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, September 15th. This is a boost from EQB’s previous quarterly dividend of $0.53. EQB’s dividend payout ratio is presently 22.68%.

About EQB

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives.