Jefferies Financial Group Cuts EQB (TSE:EQB) Price Target to C$127.00

EQB (TSE:EQB) had its price objective decreased by Jefferies Financial Group from C$128.00 to C$127.00 in a report published on Thursday morning,BayStreet reports.

Several other research firms have also commented on EQB. Scotiabank dropped their price target on shares of EQB from C$141.00 to C$135.00 in a research report on Monday, August 31st. 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 research report on Thursday, August 13th. 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. TD raised their target price on EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Finally, Desjardins dropped their target price on EQB from C$155.00 to C$150.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$139.10.

EQB Trading Down 0.8%

TSE:EQB opened at C$132.92 on Thursday. EQB has a 12 month low of C$83.93 and a 12 month high of C$150.32. The firm has a fifty day simple moving average of C$137.22 and a 200-day simple moving average of C$124.06. The company has a market capitalization of C$5.66 billion, a P/E ratio of -474.71, a PEG ratio of 0.34 and a beta of 0.83.

EQB (TSE:EQB) last issued its earnings results on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%.The firm had revenue of C$393.04 million for the quarter. Equities analysts forecast that EQB will post 12.5988235 EPS for the current year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from EQB’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, June 15th. EQB’s dividend payout ratio (DPR) is currently -828.57%.

Insider Buying and Selling

In other news, insider Loblaw Companies Limited bought 8,000 shares of EQB stock in a transaction on Thursday, September 3rd. The shares were bought at an average cost of C$133.12 per share, with a total value of C$1,064,960.00. Following the completion of the purchase, the insider directly owned 1,556,100 shares of the company’s stock, valued at approximately C$207,148,032. This trade represents a 0.52% increase in their ownership of the stock. In the last three months, insiders have bought 118,100 shares of company stock valued at $15,780,308 and have sold 7,484 shares valued at $1,069,719. 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.