EQB (TSE:EQB) Stock Gets Price Target Reduction from Desjardins

EQB (TSE:EQB) had its price objective lowered by Desjardins from C$150.00 to C$145.00 in a research report released on Wednesday,BayStreet reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on EQB. TD lifted their price target on shares of EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Jefferies Financial Group reduced their price objective on shares of EQB from C$128.00 to C$127.00 in a research note on Thursday, September 3rd. National Bank Financial upped their price objective on shares of EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Raymond James Financial upgraded shares of EQB from a “strong sell” rating to a “hold” rating and raised their target price for the company from C$120.00 to C$124.00 in a research note on Tuesday, November 3rd. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of 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. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$138.60.

EQB Stock Performance

Shares of EQB stock opened at C$128.50 on Wednesday. The stock’s 50 day simple moving average is C$123.86 and its 200 day simple moving average is C$123.24. EQB has a twelve month low of C$83.93 and a twelve month high of C$150.32. The company has a market capitalization of C$5.47 billion, a price-to-earnings ratio of -458.93, a PEG ratio of 0.34 and a beta of 0.71.

EQB (TSE:EQB) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. The firm 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%. On average, analysts forecast that EQB will post 12.60 EPS for the current fiscal year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, September 15th. This is a positive change from EQB’s previous quarterly dividend of $0.61. EQB’s dividend payout ratio is currently -828.57%.

Insider Buying and Selling

In other EQB news, insider Loblaw Companies Limited purchased 8,000 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was bought at an average cost of C$127.05 per share, for a total transaction of C$1,016,400.00. Following the completion of the acquisition, the insider directly owned 1,780,100 shares in the company, valued at C$226,161,705. This represents a 0.45% increase in their ownership of the stock. Also, Director Andrew Michael Bunston purchased 200 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were acquired at an average price of C$126.37 per share, with a total value of C$25,274.00. Following the completion of the acquisition, the director owned 200 shares of the company’s stock, valued at approximately C$25,274. The trade was a ∞ increase in their ownership of the stock. Insiders acquired a total of 184,200 shares of company stock worth $23,628,874 in the last ninety days. 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.