EQB Inc. (TSE:EQB) Stock Has Average Price Target of C$139.10 According to Brokerages

Shares of EQB Inc. (TSE:EQB) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$139.50.

Several analysts have weighed in on EQB shares. Scotiabank lowered their price objective on EQB from C$141.00 to C$135.00 in a research report on Monday, August 31st. Raymond James Financial raised EQB from a “strong sell” rating to a “hold” rating and raised their price objective for the stock from C$120.00 to C$124.00 in a research report on Tuesday. Desjardins dropped their price target on EQB from C$155.00 to C$150.00 and set a “buy” rating for the company in a research report on Friday, August 28th. Canadian Imperial Bank of Commerce lowered their price target on EQB from C$165.00 to C$154.00 and set an “outperformer” rating for the company in a report on Friday, August 28th. Finally, National Bank Financial boosted their price objective on shares of EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th.

EQB Stock Performance

EQB stock opened at C$124.83 on Friday. The firm has a market capitalization of C$5.31 billion, a PE ratio of -445.82, a price-to-earnings-growth ratio of 0.34 and a beta of 0.71. EQB has a one year low of C$83.93 and a one year high of C$150.32. The stock’s 50 day moving average price is C$123.87 and its 200 day moving average price is C$122.72.

EQB (TSE:EQB) last issued its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. The company had revenue of C$393.04 million for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. On average, analysts forecast that EQB will post 12.60 earnings per share for the current fiscal year.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were paid a $0.63 dividend. This is an increase from EQB’s previous quarterly dividend of $0.61. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, September 15th. EQB’s payout ratio is presently -828.57%.

Insider Buying and Selling

In other EQB news, insider Loblaw Companies Limited bought 16,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was purchased at an average cost of C$126.95 per share, for a total transaction of C$2,031,200.00. Following the completion of the purchase, the insider directly owned 1,660,100 shares of the company’s stock, valued at approximately C$210,749,695. This trade represents a 0.97% increase in their ownership of the stock. Over the last quarter, insiders acquired 184,200 shares of company stock valued at $23,628,874. Corporate insiders own 29.02% of the company’s stock.

EQB Company Profile

EQB Inc (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country’s seventh largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.