Brokerages Set EQB Inc. (TSE:EQB) Target Price at C$106.56

EQB Inc. (TSE:EQB) has received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$106.56.

A number of brokerages 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 company an “outperform” rating in a report on Friday, August 30th. TD Securities dropped their target price on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a report on Friday, August 30th. Cormark decreased their price target on EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Scotiabank dropped their price objective on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. Finally, CIBC boosted their price objective on shares of EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th.

EQB Price Performance

Shares of EQB opened at C$108.34 on Friday. The stock has a market capitalization of C$4.16 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a 1 year low of C$66.41 and a 1 year high of C$108.71. The business’s 50 day simple moving average is C$99.92 and its 200-day simple moving average is C$93.01.

EQB (TSE:EQB) last released its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share (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 company had revenue of C$327.24 million for the quarter, compared to the consensus estimate of C$325.00 million. On average, sell-side analysts expect that EQB will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were paid a $0.47 dividend. This is an increase from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio is currently 19.75%.

About EQB

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.