EQB (TSE:EQB) Sets New 1-Year High – Here’s Why

Shares of EQB Inc. (TSE:EQB) reached a new 52-week high during trading on Thursday . The stock traded as high as C$109.64 and last traded at C$108.76, with a volume of 13242 shares. The stock had previously closed at C$107.62.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EQB. BMO Capital Markets increased their price target on shares of EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Scotiabank cut their target price on EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. CIBC upped their price target on EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. TD Securities cut their price objective on EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Raymond James reduced their target price on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$106.56.

EQB Stock Performance

The company’s 50 day moving average is C$103.56 and its 200 day moving average is C$95.39. The stock has a market capitalization of C$4.13 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, beating analysts’ consensus estimates of C$2.93 by C$0.03. EQB had a net margin of 39.67% and a return on equity of 14.70%. The business had revenue of C$327.24 million during the quarter, compared to analyst estimates of C$325.00 million. On average, equities research analysts anticipate that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from EQB’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio is presently 19.75%.

EQB Company Profile

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.