EQB (TSE:EQB) Reaches New 52-Week High – Here’s Why

EQB Inc. (TSE:EQB)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$113.20 and last traded at C$113.20, with a volume of 945 shares trading hands. The stock had previously closed at C$112.50.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EQB shares. TD Securities dropped their price objective on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research note on Friday, August 30th. BMO Capital Markets lifted their price target on EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. CIBC lifted their price target on EQB from C$113.00 to C$130.00 in a research note on Tuesday, November 26th. Raymond James dropped their price target on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. Finally, Scotiabank lifted their price objective on EQB from C$109.00 to C$135.00 in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$114.25.

EQB Stock Down 0.6 %

The stock has a market cap of C$4.29 billion, a PE ratio of 11.82, a P/E/G ratio of 0.34 and a beta of 1.59. The company has a fifty day moving average price of C$106.98 and a 200 day moving average price of C$98.01.

EQB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from EQB’s previous quarterly dividend of $0.45. EQB’s payout ratio is currently 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.