EQB (TSE:EQB) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of EQB Inc. (TSE:EQB) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$122.52 and traded as high as C$128.50. EQB shares last traded at C$127.87, with a volume of 130,146 shares.

Wall Street Analyst Weigh In

EQB has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce decreased their price target on EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a research note on Friday, August 28th. TD raised their price target on shares of EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a report on Friday, August 14th. Scotiabank cut their target price on EQB from C$141.00 to C$135.00 in a research report on Monday, August 31st. National Bank Financial lifted their target price on EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. Finally, Raymond James Financial upgraded EQB from a “strong sell” rating to a “hold” rating and lifted their target price for the company from C$120.00 to C$124.00 in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, EQB presently has an average rating of “Moderate Buy” and an average price target of C$139.50.

EQB Price Performance

The company has a market capitalization of C$5.31 billion, a price-to-earnings ratio of -445.82, a PEG ratio of 0.34 and a beta of 0.71. The firm’s fifty day simple moving average is C$123.87 and its 200 day simple moving average is C$122.72.

EQB (TSE:EQB) last released its 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 during the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. Equities research analysts forecast that EQB Inc. 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. Investors of record on Tuesday, September 29th were issued a $0.63 dividend. This is a boost 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 was Tuesday, September 15th. EQB’s dividend payout ratio is currently -828.57%.

Insider Activity at EQB

In other 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 price of C$126.95 per share, with a total value of C$2,031,200.00. Following the transaction, the insider directly owned 1,660,100 shares in the company, valued at approximately C$210,749,695. The trade was a 0.97% increase in their ownership of the stock. Insiders have purchased a total of 184,200 shares of company stock valued at $23,628,874 over the last 90 days. Company 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.