EQB (TSE:EQB) Sets New 1-Year High After Analyst Upgrade

EQB Inc. (TSE:EQB)’s share price hit a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from C$106.00 to C$119.00. The company traded as high as C$109.80 and last traded at C$109.33, with a volume of 28101 shares changing hands. The stock had previously closed at C$107.87.

Other analysts have also recently issued research reports about the stock. CIBC upped their price objective on shares of EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. TD Securities cut their price target 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. Raymond James lowered their price objective on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. Cormark cut their target price on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Scotiabank lowered their price target on shares of EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$108.00.

EQB Stock Performance

The business’s 50 day moving average price is C$104.85 and its 200-day moving average price is C$96.26. The firm has a market capitalization of C$4.17 billion, a PE ratio of 11.48, a P/E/G ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last announced its 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 return on equity of 14.70% and a net margin of 39.67%. The company had revenue of C$327.24 million for the quarter, compared to analyst estimates of C$325.00 million. As a group, 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 was paid on Monday, September 30th. Investors of record on Monday, September 30th were paid a dividend of $0.47 per share. This is a positive change from EQB’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, September 13th. This represents a $1.88 annualized dividend and a yield of 1.73%. EQB’s dividend payout ratio is presently 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.