Insider Buying: EQB (TSE:EQB) Insider Purchases 16,000 Shares of Stock

EQB Inc. (TSE:EQB) insider Loblaw Companies Limited purchased 16,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were acquired at an average price of C$126.90 per share, with a total value of C$2,030,400.00. Following the transaction, the insider owned 1,692,100 shares in the company, valued at C$214,727,490. This trade represents a 0.95% increase in their ownership of the stock.

Loblaw Companies Limited also recently made the following trade(s):

• On Tuesday, September 15th, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was acquired at an average price of C$126.95 per share, for a total transaction of C$2,031,200.00.
• On Tuesday, September 8th, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was acquired at an average price of C$130.24 per share, for a total transaction of C$2,083,840.00.
• On Thursday, September 10th, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were acquired at an average cost of C$128.16 per share, with a total value of C$2,050,560.00.
• On Monday, August 31st, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were acquired at an average cost of C$126.79 per share, with a total value of C$2,028,640.00.
• On Wednesday, September 2nd, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were acquired at an average price of C$127.81 per share, with a total value of C$2,044,960.00.
• On Thursday, September 3rd, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was bought at an average cost of C$133.12 per share, for a total transaction of C$1,064,960.00.
• On Monday, August 24th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was bought at an average price of C$133.47 per share, for a total transaction of C$1,067,760.00.
• On Wednesday, August 26th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were bought at an average cost of C$137.01 per share, with a total value of C$1,096,080.00.
• On Thursday, August 27th, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were bought at an average price of C$124.91 per share, for a total transaction of C$1,998,560.00.
• On Thursday, August 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were bought at an average price of C$134.00 per share, for a total transaction of C$1,072,000.00.

EQB Price Performance

Shares of EQB stock traded down C$1.61 during trading on Friday, hitting C$123.78. 91,029 shares of the company were exchanged, compared to its average volume of 121,195. The firm has a market capitalization of C$4.53 billion, a P/E ratio of -442.07, a price-to-earnings-growth ratio of 0.34 and a beta of 0.83. The firm’s fifty day moving average price is C$135.97 and its 200 day moving average price is C$124.79. EQB Inc. has a 1-year low of C$83.93 and a 1-year high of C$150.32.

EQB (TSE:EQB) last announced its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. The business had revenue of C$393.04 million for the quarter. As a group, equities research analysts anticipate that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.0%. This is a boost from EQB’s previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, September 15th. EQB’s dividend payout ratio (DPR) is -828.57%.

Analysts Set New Price Targets

A number of analysts recently commented on EQB shares. National Bank Financial upped 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. Jefferies Financial Group decreased their target price on EQB from C$128.00 to C$127.00 in a research note on Thursday, September 3rd. Scotiabank lowered their price target on EQB from C$141.00 to C$135.00 in a report on Monday, August 31st. Royal Bank Of Canada raised their price target on EQB from C$131.00 to C$146.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Finally, Canadian Imperial Bank of Commerce cut their price objective on EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a report on Friday, August 28th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$139.10.

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.